Mullen Automotive (NASDAQ:MULN) Stock Price Up 8.7% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares were up 8.7% during trading on Tuesday . The stock traded as high as $3.17 and last traded at $3.12. Approximately 753,315 shares were traded during trading, a decline of 19% from the average daily volume of 929,031 shares. The stock had previously closed at $2.87.

Mullen Automotive Stock Performance

The firm has a 50 day simple moving average of $3.02 and a 200 day simple moving average of $128.70.

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 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned 0.63% of Mullen Automotive as of its most recent filing with the Securities and Exchange Commission. 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.