Mullen Automotive (NASDAQ:MULN) Trading Down 6.2% – Time to Sell?

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 6.2% during trading on Monday . The stock traded as low as $0.25 and last traded at $0.27. 5,161,171 shares were traded during trading, a decline of 68% from the average session volume of 15,960,103 shares. The stock had previously closed at $0.29.

Mullen Automotive Stock Performance

The firm’s 50-day moving average price is $1.21 and its 200 day moving average price is $19.35.

Institutional Inflows and Outflows

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