Mullen Automotive (NASDAQ:MULN) Shares Up 4.5% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded up 4.5% during trading on Wednesday . The stock traded as high as $0.34 and last traded at $0.31. 8,209,295 shares changed hands during mid-day 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 Price Performance

The firm has a 50-day moving average price of $1.27 and a 200 day moving average price of $22.94.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 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 SEC. Institutional investors 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.