Mullen Automotive (NASDAQ:MULN) Shares Up 4.5% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) traded up 4.5% on Wednesday . The company traded as high as $0.34 and last traded at $0.31. 8,209,295 shares changed hands during trading, a decline of 37% from the average session volume of 12,958,976 shares. The stock had previously closed at $0.29.

Mullen Automotive Stock Performance

The stock has a 50-day simple moving average of $1.37 and a two-hundred day simple moving average of $23.25.

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 stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is 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.