Mullen Automotive (NASDAQ:MULN) Trading 6.8% Higher – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price rose 6.8% during trading on Monday . The company traded as high as $3.19 and last traded at $3.13. Approximately 509,041 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 926,462 shares. The stock had previously closed at $2.93.

Mullen Automotive Price Performance

The stock has a 50-day simple moving average of $3.35 and a 200-day simple moving average of $137.46.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 quarter. Institutional investors and hedge funds 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.