Mullen Automotive (NASDAQ:MULN) Shares Down 4.6% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN) shares were down 4.6% on Wednesday . The company traded as low as $0.37 and last traded at $0.41. Approximately 1,835,235 shares were traded during trading, a decline of 83% from the average daily volume of 10,569,635 shares. The stock had previously closed at $0.43.

Mullen Automotive Stock Performance

The business’s 50 day simple moving average is $1.51 and its two-hundred day simple moving average is $30.51.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent SEC filing. 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.