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

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

Mullen Automotive Stock Performance

The firm has a 50 day moving average price of $0.88 and a 200-day moving average price of $12.72.

Institutional Trading of Mullen Automotive

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) in the third quarter, according to its most recent Form 13F filing 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 approximately 0.34% of Mullen Automotive at the end of the most recent quarter. 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.