Mullen Automotive (NASDAQ:MULN) Trading Down 4.3% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $0.39 and last traded at $0.40. Approximately 1,175,437 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 10,038,606 shares. The stock had previously closed at $0.41.

Mullen Automotive Trading Down 2.4 %

The business has a fifty day moving average price of $1.57 and a 200 day moving average price of $30.72.

Institutional Trading of Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 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. 11.71% of the stock is currently owned by 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.