Mullen Automotive (NASDAQ:MULN) Trading Up 8% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price was up 8% during mid-day trading on Friday . The company traded as high as $0.45 and last traded at $0.44. Approximately 3,092,833 shares were traded during trading, a decline of 68% from the average daily volume of 9,576,152 shares. The stock had previously closed at $0.41.

Mullen Automotive Trading Up 7.1 %

The business has a fifty day moving average price of $1.51 and a 200-day moving average price of $30.51.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive as of its most recent filing with the Securities & Exchange Commission. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.