DB Gold Double Long ETN (NYSEARCA:DGP) Shares Down 1.4% – Time to Sell?

DB Gold Double Long ETN (NYSEARCA:DGP)’s share price traded down 1.4% during trading on Monday . The stock traded as low as $141.61 and last traded at $142.75. Approximately 217,352 shares were traded during mid-day 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 Price Performance

The company’s fifty day moving average is $170.24 and its two-hundred day moving average is $183.98.

Hedge Funds 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 purchased a new position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned approximately 0.13% of DB Gold Double Long ETN as of its most recent filing with the Securities & Exchange Commission.

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.