Mullen Automotive (NASDAQ:MULN) Shares Down 10.4% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price traded down 10.4% during trading on Tuesday . The stock traded as low as $0.43 and last traded at $0.43. 1,955,214 shares traded hands during trading, a decline of 82% from the average session volume of 11,068,966 shares. The stock had previously closed at $0.48.

Mullen Automotive Trading Down 1.9 %

The firm has a fifty day simple moving average of $1.51 and a 200-day simple moving average of $30.51.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to its most recent 13F filing with the 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 as of its most recent SEC filing. 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.