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

DB Gold Double Long ETN (NYSEARCA:DGP) was up 1.5% during trading on Tuesday . The stock 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 Price Performance

The company’s fifty day simple moving average is $195.41 and its 200 day simple moving average is $180.27.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. 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.

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.