DB Gold Double Long ETN (NYSEARCA:DGP) Stock Price Down 8.4% – Should You Sell?

Shares of DB Gold Double Long ETN (NYSEARCA:DGP) fell 8.4% during mid-day trading on Monday . The company traded as low as $160.45 and last traded at $163.22. 33,889 shares changed hands during mid-day trading, an increase of 99% from the average session volume of 17,034 shares. The stock had previously closed at $178.15.

DB Gold Double Long ETN Trading Down 8.4%

The stock has a 50-day moving average price of $152.86 and a two-hundred day moving average price of $127.53.

Institutional Investors Weigh In On DB Gold Double Long ETN

A hedge fund recently bought a new stake in DB Gold Double Long ETN stock. Redwood Investment Management LLC bought a new position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 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.

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.