Mullen Automotive (NASDAQ:MULN) Shares Down 17.3% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) was down 17.3% during trading on Friday . The stock traded as low as $0.53 and last traded at $0.55. Approximately 6,788,822 shares changed hands during trading, a decline of 32% from the average daily volume of 10,010,210 shares. The stock had previously closed at $0.67.

Mullen Automotive Stock Down 33.1 %

The firm has a fifty day moving average price of $1.83 and a 200 day moving average price of $44.17.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.