Mullen Automotive (NASDAQ:MULN) Trading 7% Higher

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) shot up 7% during mid-day trading on Wednesday . The company traded as high as $0.31 and last traded at $0.26. 46,957,316 shares traded hands during mid-day trading, an increase of 896% from the average session volume of 4,713,690 shares. The stock had previously closed at $0.24.

Mullen Automotive Trading Up 5.1 %

The firm’s fifty day moving average price is $1.67 and its 200-day moving average price is $3.98.

Insider Buying and Selling at Mullen Automotive

In other Mullen Automotive news, insider Calin Popa sold 23,223 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $3.10, for a total value of $71,991.30. Following the sale, the insider now owns 286,506 shares in the company, valued at $888,168.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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 first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent quarter. 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.