Mullen Automotive (NASDAQ:MULN) Shares Down 4.6% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price fell 4.6% during trading on Wednesday . The stock traded as low as $0.37 and last traded at $0.41. 1,835,235 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 10,569,635 shares. The stock had previously closed at $0.43.

Mullen Automotive Trading Up 8.5 %

The firm has a fifty day moving average price of $1.51 and a two-hundred 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 acquired a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 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.