DB Gold Double Long ETN (NYSEARCA:DGP) Trading Up 1.5% – What’s Next?

Shares of DB Gold Double Long ETN (NYSEARCA:DGP) were up 1.5% during trading on Tuesday . The company traded as high as $177.36 and last traded at $171.24. Approximately 316,093 shares changed hands during mid-day trading, an increase of 148% from the average daily volume of 127,386 shares. The stock had previously closed at $168.63.

DB Gold Double Long ETN Stock Up 1.5%

The business’s 50 day moving average price is $195.41 and its 200 day moving average price is $180.27.

Institutional Trading of DB Gold Double Long ETN

A hedge fund recently bought a new stake in DB Gold Double Long ETN stock. Redwood Investment Management LLC purchased a new position in DB Gold Double Long ETN (NYSEARCA:DGP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned 0.13% of DB Gold Double Long ETN as of its most recent SEC filing.

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.