DB Gold Double Long ETN (NYSEARCA:DGP) Trading Up 0.2% – Still a Buy?

DB Gold Double Long ETN (NYSEARCA:DGP) shares were up 0.2% during mid-day trading on Tuesday . The stock traded as high as $161.68 and last traded at $158.00. Approximately 180,921 shares traded hands during trading, an increase of 133% from the average daily volume of 77,654 shares. The stock had previously closed at $157.69.

DB Gold Double Long ETN Trading Up 0.2%

The business has a 50-day moving average price of $210.03 and a 200 day moving average price of $170.19.

Hedge Funds Weigh In On 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 holdings in DB Gold Double Long ETN (NYSEARCA:DGP) by 418.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,730 shares of the company’s stock after buying an additional 24,797 shares during the period. Flow Traders U.S. LLC owned about 1.92% of DB Gold Double Long ETN worth $3,081,000 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.