DB Gold Double Long ETN (NYSEARCA:DGP) Trading 2.3% Higher – Here’s Why

DB Gold Double Long ETN (NYSEARCA:DGP)’s stock price shot up 2.3% during trading on Tuesday . The company traded as high as $86.72 and last traded at $86.67. 21,110 shares were traded during mid-day trading, an increase of 112% from the average session volume of 9,940 shares. The stock had previously closed at $84.72.

DB Gold Double Long ETN Price Performance

The business’s 50-day simple moving average is $77.62 and its 200-day simple moving average is $70.81.

Institutional Trading of DB Gold Double Long ETN

A hedge fund recently raised its stake in DB Gold Double Long ETN stock. Flow Traders U.S. LLC lifted its position in DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,028 shares of the company’s stock after buying 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 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.