DB Gold Double Long ETN (NYSEARCA:DGP) Shares Down 0.3% – What’s Next?

DB Gold Double Long ETN (NYSEARCA:DGP) shares fell 0.3% during mid-day trading on Thursday . The stock traded as low as $143.79 and last traded at $145.33. 5,978 shares were traded during trading, a decline of 66% from the average session volume of 17,337 shares. The stock had previously closed at $145.82.

DB Gold Double Long ETN Price Performance

The company’s 50-day moving average price is $139.95 and its 200-day moving average price is $116.13.

Institutional Investors 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 raised its position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 418.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,730 shares of the company’s stock after acquiring an additional 24,797 shares during the quarter. Flow Traders U.S. LLC owned approximately 1.92% of DB Gold Double Long ETN worth $3,081,000 as of its most recent SEC filing.

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.