DB Gold Double Long ETN (NYSEARCA:DGP) Stock Price Down 8.5% – What’s Next?

DB Gold Double Long ETN (NYSEARCA:DGP)’s stock price dropped 8.5% during mid-day trading on Tuesday . The stock traded as low as $213.05 and last traded at $219.68. Approximately 80,925 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 77,503 shares. The stock had previously closed at $240.16.

DB Gold Double Long ETN Trading Down 8.5%

The stock has a 50-day simple moving average of $200.04 and a two-hundred day simple moving average of $159.92.

Institutional Trading of DB Gold Double Long ETN

An institutional investor recently raised its position in DB Gold Double Long ETN stock. Flow Traders U.S. LLC raised its holdings in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 418.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 30,730 shares of the company’s stock after purchasing an additional 24,797 shares during the period. Flow Traders U.S. LLC owned 1.92% of DB Gold Double Long ETN worth $3,081,000 at the end of the most recent reporting period.

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.