Mullen Automotive (NASDAQ:MULN) Shares Up 1.1% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 1.1% during trading on Tuesday . The stock traded as high as $0.28 and last traded at $0.27. Approximately 4,927,217 shares traded hands during trading, a decline of 69% from the average daily volume of 15,680,293 shares. The stock had previously closed at $0.26.

Mullen Automotive Stock Performance

The company’s fifty day moving average is $1.16 and its 200-day moving average is $18.22.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 filing with the Securities and Exchange Commission. 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.