DB Gold Double Long ETN (NYSEARCA:DGP) Sees Significant Drop in Short Interest

DB Gold Double Long ETN (NYSEARCA:DGP) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 1,665 shares, a decrease of 45.5% from the August 31st total of 3,056 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 145,696 shares, the days-to-cover ratio is presently 0.0 days.

DB Gold Double Long ETN Stock Down 0.8%

Shares of DGP traded down $1.20 during midday trading on Wednesday, hitting $148.35. 213,730 shares of the company traded hands, compared to its average volume of 151,336. DB Gold Double Long ETN has a 52 week low of $125.67 and a 52 week high of $252.75. The firm has a 50 day moving average of $152.66 and a 200-day moving average of $160.46.

More DB Gold Double Long ETN News

Here are the key news stories impacting DB Gold Double Long ETN this week:

• Positive Sentiment: Softer-than-expected August PCE inflation reduced immediate expectations for an October Fed rate hike, helping gold rebound from technical support. Lower yields and reduced rate-hike odds could support DGP if the trend continues. Gold rises as softer PCE cools October Fed hike odds
• Positive Sentiment: Morgan Stanley’s Amy Gower said strong exchange-traded fund and central-bank demand could help gold return above $5,000 per ounce within a year, providing a favorable longer-term backdrop for the leveraged ETN. Gold price will break $5,000 per ounce
• Neutral Sentiment: Analysts see potential for a stronger fourth quarter if yields ease or rate-cut expectations return, but gold’s non-yielding nature remains vulnerable while bond yields stay near multi-decade highs. Gold price could have a shinier Q4
• Negative Sentiment: ADP reported 90,000 private-sector jobs added in September, exceeding expectations and signaling labor-market resilience. The data may reinforce a hawkish Fed outlook, lifting yields and weighing on gold and DGP. Gold faces new headwinds from strong private-sector job growth
• Negative Sentiment: Gold’s recent break below key support has increased bearish technical pressure, with analysts warning that rallies may face resistance and that prices could fall toward $4,100. Gold support breakdown deepens bearish pressure

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.