Shares of DB Gold Double Long ETN (NYSEARCA:DGP – Get Free Report) dropped 1.4% during trading on Monday . The stock traded as low as $141.61 and last traded at $142.75. Approximately 217,352 shares traded hands during trading, an increase of 37% from the average daily volume of 158,918 shares. The stock had previously closed at $144.77.
DB Gold Double Long ETN Trading Down 6.7%
The stock’s fifty day moving average is $169.17 and its two-hundred day moving average is $183.86.
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 DB Gold Double Long ETN (NYSEARCA:DGP – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned about 0.13% of DB Gold Double Long ETN as of its most recent SEC filing.
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.
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