DB Gold Double Long ETN (NYSEARCA:DGP) Shares Down 0.2% – Here’s What Happened

DB Gold Double Long ETN (NYSEARCA:DGP)’s share price traded down 0.2% during mid-day trading on Tuesday . The company traded as low as $166.51 and last traded at $167.06. 274,679 shares traded hands during trading, an increase of 90% from the average session volume of 144,531 shares. The stock had previously closed at $167.40.

DB Gold Double Long ETN Stock Down 0.2%

The firm’s fifty day moving average price is $180.11 and its 200 day moving average price is $183.29.

Institutional Trading of DB Gold Double Long ETN

A hedge fund recently bought a new stake in DB Gold Double Long ETN stock. Redwood Investment Management LLC acquired a new position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned 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.