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

DB Gold Double Long ETN (NYSEARCA:DGP) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 50,502 shares, an increase of 989.6% from the May 31st total of 4,635 shares. Based on an average daily volume of 243,780 shares, the days-to-cover ratio is presently 0.2 days. Currently, 3.2% of the company’s stock are sold short.

DB Gold Double Long ETN Price Performance

DGP traded up $3.60 on Friday, hitting $134.20. The company had a trading volume of 156,233 shares, compared to its average volume of 158,204. The stock has a fifty day moving average price of $165.50 and a 200-day moving average price of $183.18. DB Gold Double Long ETN has a 12-month low of $96.41 and a 12-month high of $252.75.

Institutional Inflows and Outflows

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

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.