DB Gold Double Long ETN (NYSEARCA:DGP) Trading 2.3% Higher – What’s Next?

DB Gold Double Long ETN (NYSEARCA:DGP) shares rose 2.3% during mid-day trading on Tuesday . The company traded as high as $86.72 and last traded at $86.67. Approximately 21,110 shares were traded during trading, an increase of 112% from the average daily volume of 9,940 shares. The stock had previously closed at $84.72.

DB Gold Double Long ETN Stock Performance

The business has a 50-day moving average price of $77.24 and a 200-day moving average price of $70.69.

Hedge Funds Weigh In On DB Gold Double Long ETN

An institutional investor recently raised its position in DB Gold Double Long ETN stock. Flow Traders U.S. LLC boosted its stake in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,028 shares of the company’s stock after purchasing an additional 3,272 shares during the quarter. Flow Traders U.S. LLC owned about 0.70% of DB Gold Double Long ETN worth $1,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

DB Gold Double Long ETN Company Profile

The DB Gold Double Long Exchange Traded Notes (DGP) is an exchange-traded fund that mostly invests in gold commodities. The fund provides 2x the daily performance of futures contracts relating to gold. The notes index selects contracts based on the shape of the futures curve to minimize contango. DGP was launched on Feb 27, 2008 and is issued by DB.