Mullen Automotive (NASDAQ:MULN) Stock Price Up 4% – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) rose 4% during mid-day trading on Wednesday . The stock traded as high as $1.34 and last traded at $1.28. Approximately 1,660,272 shares traded hands during trading, an increase of 68% from the average daily volume of 989,162 shares. The stock had previously closed at $1.23.

Mullen Automotive Price Performance

The stock’s 50-day simple moving average is $2.37 and its 200 day simple moving average is $82.42.

Institutional Investors Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the 3rd quarter, according to the company in its most recent 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 as of its most recent filing with the Securities & Exchange Commission. 11.71% of the stock is owned by institutional investors and hedge funds.

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.