Mullen Automotive (NASDAQ:MULN) Stock Price Down 3.8% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) was down 3.8% during mid-day trading on Friday . The stock traded as low as $0.46 and last traded at $0.46. Approximately 1,454,580 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 11,652,384 shares. The stock had previously closed at $0.48.

Mullen Automotive Stock Performance

The firm has a 50 day moving average price of $1.70 and a two-hundred day moving average price of $35.67.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is currently 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.