DB Gold Double Long ETN (NYSEARCA:DGP) Sees Large Decline in Short Interest

DB Gold Double Long ETN (NYSEARCA:DGP) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 5,047 shares, a decline of 71.4% from the April 30th total of 17,622 shares. Based on an average daily trading volume, of 265,989 shares, the short-interest ratio is currently 0.0 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in DB Gold Double Long ETN stock. Redwood Investment Management LLC acquired a new stake in DB Gold Double Long ETN (NYSEARCA:DGP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned about 0.13% of DB Gold Double Long ETN as of its most recent SEC filing.

DB Gold Double Long ETN Trading Up 2.1%

Shares of NYSEARCA DGP traded up $3.58 during midday trading on Friday, hitting $170.14. The company’s stock had a trading volume of 279,362 shares, compared to its average volume of 147,797. DB Gold Double Long ETN has a 1-year low of $96.41 and a 1-year high of $252.75. The firm’s fifty day moving average price is $177.71 and its 200-day moving average price is $183.54.

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.