Mullen Automotive (NASDAQ:MULN) Stock Price Down 1.7% – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) fell 1.7% during mid-day trading on Wednesday . The company traded as low as $0.23 and last traded at $0.25. 3,788,787 shares changed hands during trading, a decline of 74% from the average session volume of 14,764,578 shares. The stock had previously closed at $0.26.

Mullen Automotive Stock Up 15.7 %

The company has a fifty day moving average price of $0.88 and a two-hundred day moving average price of $12.72.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 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.

About Mullen Automotive

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.