DB Gold Double Long ETN (NYSEARCA:DGP) Stock Price Up 0.2% – Still a Buy?

DB Gold Double Long ETN (NYSEARCA:DGP) shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $161.68 and last traded at $158.00. 180,921 shares traded hands during mid-day trading, an increase of 133% from the average session volume of 77,654 shares. The stock had previously closed at $157.69.

DB Gold Double Long ETN Stock Up 0.2%

The firm’s 50 day simple moving average is $210.03 and its 200 day simple moving average is $170.19.

Institutional Investors Weigh In On DB Gold Double Long ETN

An institutional investor recently bought a new position in DB Gold Double Long ETN stock. Redwood Investment Management LLC purchased a new stake in shares of DB Gold Double Long ETN (NYSEARCA:DGP) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned approximately 0.13% of DB Gold Double Long ETN 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.