DB Gold Double Long ETN (NYSEARCA:DGP) Sees Significant Decrease in Short Interest

DB Gold Double Long ETN (NYSEARCA:DGP) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 1,665 shares, a decrease of 45.5% from the August 31st total of 3,056 shares. Based on an average trading volume of 145,696 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are short sold.

Key Headlines Impacting DB Gold Double Long ETN

Here are the key news stories impacting DB Gold Double Long ETN this week:

• Positive Sentiment: A retreat in Treasury yields helped gold recover some ground despite a strong U.S. dollar, improving the near-term backdrop for the leveraged gold ETN. Gold gains some ground despite strong dollar
• Positive Sentiment: The September ISM Manufacturing PMI slipped below expectations to 54.5, potentially reducing pressure for additional Federal Reserve tightening and supporting gold demand. Gold price after ISM Manufacturing PMI
• Positive Sentiment: Softer PCE inflation data has cooled expectations for an October Fed hike, while traders await payrolls for the next major policy signal. Softer PCE cuts Fed hike bets
• Neutral Sentiment: Gold is trading sideways after recovering from recent weakness, with technical support and resistance levels likely to keep DGP volatile ahead of U.S. payrolls. Gold continues to drift back and forth
• Negative Sentiment: Bank of America warned that gold could fall below $4,000 in the fourth quarter if surging bond yields and higher interest-rate expectations continue to pressure the non-yielding metal. Bank of America gold forecast
• Negative Sentiment: A resilient U.S. labor market, including better-than-expected unemployment claims and strong ADP job growth, could limit expectations for Fed easing and weigh on gold. Gold holds steady despite solid labor market

DB Gold Double Long ETN Price Performance

NYSEARCA:DGP traded up $0.49 on Thursday, reaching $148.87. The stock had a trading volume of 195,613 shares, compared to its average volume of 151,579. The firm’s fifty day moving average is $152.89 and its two-hundred day moving average is $159.95. DB Gold Double Long ETN has a 12-month low of $125.67 and a 12-month high of $252.75.

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.