Mullen Automotive (NASDAQ:MULN) Stock Price Up 0.4% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) rose 0.4% on Wednesday . The company traded as high as $2.79 and last traded at $2.63. Approximately 282,324 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 934,356 shares. The stock had previously closed at $2.62.

Mullen Automotive Price Performance

The company’s 50-day simple moving average is $3.02 and its 200-day simple moving average is $128.70.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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 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.