Mullen Automotive (NASDAQ:MULN) Shares Down 5% – What’s Next?

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 5% during mid-day trading on Friday . The company traded as low as $0.91 and last traded at $0.96. 4,936,011 shares were traded during trading, a decline of 46% from the average session volume of 9,198,832 shares. The stock had previously closed at $1.01.

Mullen Automotive Stock Performance

The company has a 50 day moving average price of $1.98 and a 200 day moving average price of $53.36.

Institutional Trading of Mullen Automotive

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) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is owned by hedge funds and other institutional investors.

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.