DB Gold Double Long ETN (NYSEARCA:DGP) Short Interest Up 989.6% in June

DB Gold Double Long ETN (NYSEARCA:DGP) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 50,502 shares, a growth of 989.6% from the May 31st total of 4,635 shares. Currently, 3.2% of the shares of the stock are short sold. Based on an average daily volume of 243,780 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in DB Gold Double Long ETN stock. Redwood Investment Management LLC purchased a new position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

DB Gold Double Long ETN Trading Up 1.8%

DGP stock opened at $130.60 on Friday. The company has a 50 day simple moving average of $166.67 and a 200 day simple moving average of $183.52. DB Gold Double Long ETN has a 1 year low of $96.41 and a 1 year high of $252.75.

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.