DB Gold Double Long ETN (NYSEARCA:DGP) Shares Down 2.4% – Here’s Why

DB Gold Double Long ETN (NYSEARCA:DGP) fell 2.4% during mid-day trading on Tuesday . The stock traded as low as $79.14 and last traded at $80.19. 13,216 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 9,620 shares. The stock had previously closed at $82.16.

DB Gold Double Long ETN Stock Down 2.4 %

The stock has a fifty day moving average of $72.59 and a 200-day moving average of $68.41.

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 grew its position in DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 0.70% of DB Gold Double Long ETN worth $1,277,000 at the end of the most recent reporting period.

About DB Gold Double Long ETN

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.