Mullen Automotive (NASDAQ:MULN) Trading Down 5.6% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 5.6% during trading on Monday . The stock traded as low as $0.36 and last traded at $0.42. 6,897,283 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 11,627,287 shares. The stock had previously closed at $0.44.

Mullen Automotive Price Performance

The firm’s 50-day moving average price is $1.83 and its two-hundred day moving average price is $42.74.

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 stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the Securities & Exchange Commission. 11.71% of the stock is currently owned by institutional investors.

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.