Mullen Automotive (NASDAQ:MULN) Shares Down 3.3% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) shares traded down 3.3% on Wednesday . The company traded as low as $0.24 and last traded at $0.26. 3,304,184 shares changed 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 Price Performance

The company’s fifty day moving average is $1.11 and its two-hundred day moving average is $17.19.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 reporting period. 11.71% of the stock is owned by 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.