DB Gold Double Long ETN (NYSEARCA:DGP) Trading Down 2.4% – Here’s Why

Shares of DB Gold Double Long ETN (NYSEARCA:DGP) fell 2.4% during mid-day trading on Tuesday . The stock traded as low as $79.14 and last traded at $80.19. 13,216 shares changed hands during mid-day trading, an increase of 37% from the average session volume of 9,620 shares. The stock had previously closed at $82.16.

DB Gold Double Long ETN Trading Down 2.4 %

The company has a 50 day simple moving average of $72.59 and a 200 day simple moving average of $68.41.

Institutional Trading of DB Gold Double Long ETN

An institutional investor recently raised its position in DB Gold Double Long ETN stock. Flow Traders U.S. LLC boosted its holdings in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,028 shares of the company’s stock after acquiring an additional 3,272 shares during the period. Flow Traders U.S. LLC owned 0.70% of DB Gold Double Long ETN worth $1,277,000 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.