Mullen Automotive (NASDAQ:MULN) Trading Down 4.6% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) traded down 4.6% during mid-day trading on Tuesday . The stock traded as low as $2.56 and last traded at $2.69. 593,634 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 906,616 shares. The stock had previously closed at $2.82.

Mullen Automotive Trading Down 9.6 %

The company’s 50-day moving average is $4.36 and its two-hundred day moving average is $153.41.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive as of its most recent filing with the Securities & Exchange Commission. 11.71% of the stock is owned by hedge funds and other institutional investors.

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.