Mullen Automotive (NASDAQ:MULN) Shares Down 3.3% – Should You Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) fell 3.3% during mid-day trading on Wednesday . The company traded as low as $0.24 and last traded at $0.26. 3,304,184 shares traded hands during trading, a decline of 79% from the average session volume of 15,399,770 shares. The stock had previously closed at $0.27.

Mullen Automotive Stock Performance

The firm’s fifty day simple moving average is $1.02 and its 200 day simple moving average is $16.96.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent 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 about 0.34% of Mullen Automotive at the end of the most recent quarter. 11.71% of the stock is owned by institutional investors and hedge funds.

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.