Mullen Automotive (NASDAQ:MULN) Trading Down 4.6% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares dropped 4.6% on Tuesday . The stock traded as low as $0.29 and last traded at $0.31. Approximately 5,686,304 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 12,600,461 shares. The stock had previously closed at $0.33.

Mullen Automotive Stock Down 9.3 %

The company has a fifty day simple moving average of $1.27 and a two-hundred day simple moving average of $22.94.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 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 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.