DB Gold Double Long ETN (NYSEARCA:DGP) Shares Down 2.9% – What’s Next?

DB Gold Double Long ETN (NYSEARCA:DGP) dropped 2.9% during trading on Tuesday . The company traded as low as $215.00 and last traded at $215.01. Approximately 30,844 shares were traded during trading, a decline of 58% from the average daily volume of 73,460 shares. The stock had previously closed at $221.48.

DB Gold Double Long ETN Stock Down 2.9%

The business has a fifty day moving average price of $181.88 and a two-hundred day moving average price of $147.35.

Institutional Investors Weigh In On DB Gold Double Long ETN

An institutional investor recently bought a new position in DB Gold Double Long ETN stock. Redwood Investment Management LLC purchased a new stake in shares of DB Gold Double Long ETN (NYSEARCA:DGP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 SEC filing.

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.