Mullen Automotive (NASDAQ:MULN) Trading 8% Higher – Time to Buy?

Mullen Automotive, Inc. (NASDAQ:MULN) was up 8% during mid-day trading on Friday . The company traded as high as $0.45 and last traded at $0.44. Approximately 3,092,833 shares were traded during trading, a decline of 68% from the average daily volume of 9,576,152 shares. The stock had previously closed at $0.41.

Mullen Automotive Trading Up 8.5 %

The company’s 50-day moving average price is $1.47 and its 200 day moving average price is $27.57.

Institutional Investors 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) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm 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 quarter. 11.71% of the stock is owned by hedge funds and other 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.