Mullen Automotive (NASDAQ:MULN) Stock Price Up 9.4% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price rose 9.4% on Monday . The stock traded as high as $2.89 and last traded at $2.78. Approximately 1,394,849 shares were traded during mid-day trading, an increase of 55% from the average daily volume of 899,459 shares. The stock had previously closed at $2.54.

Mullen Automotive Price Performance

The firm’s 50 day simple moving average is $4.64 and its two-hundred day simple moving average is $156.65.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent reporting period. Hedge funds and other 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.