DB Gold Double Long ETN (NYSEARCA:DGP) Trading 1.4% Higher – Here’s Why

Shares of DB Gold Double Long ETN (NYSEARCA:DGP) were up 1.4% during trading on Tuesday . The company traded as high as $77.73 and last traded at $77.05. Approximately 6,836 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 9,306 shares. The stock had previously closed at $76.00.

DB Gold Double Long ETN Stock Performance

The business has a 50-day moving average price of $68.87 and a 200-day moving average price of $65.97.

Hedge Funds Weigh In On DB Gold Double Long ETN

A hedge fund recently raised its stake in DB Gold Double Long ETN stock. Flow Traders U.S. LLC grew its holdings in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,028 shares of the company’s stock after purchasing an additional 3,272 shares during the period. Flow Traders U.S. LLC owned approximately 0.70% of DB Gold Double Long ETN worth $1,277,000 at the end of the most recent quarter.

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.