Mullen Automotive (NASDAQ:MULN) Shares Down 3.3% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was down 3.3% during mid-day trading on Wednesday . The stock traded as low as $0.24 and last traded at $0.26. Approximately 3,304,184 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 15,399,770 shares. The stock had previously closed at $0.27.

Mullen Automotive Trading Down 16.6 %

The business has a fifty day moving average of $1.02 and a 200 day moving average of $16.96.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Mullen Automotive Company Profile

Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.