Mullen Automotive (NASDAQ:MULN) Trading Down 5% – What’s Next?

Mullen Automotive, Inc. (NASDAQ:MULN) was down 5% during trading on Friday . The company traded as low as $0.91 and last traded at $0.96. Approximately 4,936,011 shares traded hands during trading, a decline of 46% from the average daily volume of 9,198,832 shares. The stock had previously closed at $1.01.

Mullen Automotive Stock Down 4.3 %

The company’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $56.61.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent SEC filing. 11.71% of the stock is currently 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.