Mullen Automotive (NASDAQ:MULN) Stock Price Down 9.9% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) fell 9.9% during trading on Thursday . The stock traded as low as $1.17 and last traded at $1.19. 1,530,651 shares were traded during mid-day trading, an increase of 51% from the average session volume of 1,012,933 shares. The stock had previously closed at $1.32.

Mullen Automotive Price Performance

The stock has a 50-day simple moving average of $2.29 and a two-hundred day simple moving average of $75.39.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned 0.34% of Mullen Automotive at the end of the most recent quarter. 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.