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

DB Gold Double Long ETN (NYSEARCA:DGP) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 4,522 shares, a decline of 35.7% from the June 30th total of 7,028 shares. Based on an average daily trading volume, of 108,860 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.3% of the company’s shares are short sold.

DB Gold Double Long ETN Stock Down 3.0%

Shares of DB Gold Double Long ETN stock traded down $4.05 during trading on Friday, reaching $131.51. 83,932 shares of the company traded hands, compared to its average volume of 149,919. DB Gold Double Long ETN has a 1-year low of $98.02 and a 1-year high of $252.75. The company has a 50 day moving average price of $142.89 and a 200-day moving average price of $177.68.

Institutional Inflows and Outflows

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

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.