DB Gold Double Long ETN (NYSEARCA:DGP) Stock Price Up 1% – Here’s Why

DB Gold Double Long ETN (NYSEARCA:DGP) shot up 1% during mid-day trading on Tuesday . The stock traded as high as $66.07 and last traded at $66.07. 3,003 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 8,807 shares. The stock had previously closed at $65.44.

DB Gold Double Long ETN Price Performance

The company’s 50 day simple moving average is $68.23 and its 200 day simple moving average is $62.90.

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 holdings in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,028 shares of the company’s stock after purchasing an additional 3,272 shares during the period. Flow Traders U.S. LLC owned approximately 0.70% of DB Gold Double Long ETN worth $1,277,000 at the end of the most recent quarter.

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.