Mullen Automotive (NASDAQ:MULN) Trading Up 2.3% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) shares rose 2.3% during trading on Thursday . The stock traded as high as $2.79 and last traded at $2.68. Approximately 668,701 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 936,191 shares. The stock had previously closed at $2.62.

Mullen Automotive Price Performance

The stock has a 50-day moving average price of $2.91 and a 200 day moving average price of $127.82.

Hedge Funds Weigh In On Mullen Automotive

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 filing with the SEC. The fund acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 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.