Mullen Automotive (NASDAQ:MULN) Trading Down 4.6% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 4.6% during trading on Tuesday . The stock traded as low as $0.29 and last traded at $0.31. Approximately 5,686,304 shares were traded during trading, a decline of 55% from the average daily volume of 12,600,461 shares. The stock had previously closed at $0.33.

Mullen Automotive Stock Performance

The company has a 50 day moving average price of $1.27 and a 200 day moving average price of $22.94.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC acquired a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period. Hedge funds and other institutional investors own 11.71% of the company’s stock.

Mullen Automotive Company Profile

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.