DB Gold Double Long ETN (NYSEARCA:DGP) Trading 1% Higher – Still a Buy?

DB Gold Double Long ETN (NYSEARCA:DGP)’s stock price shot up 1% on Tuesday . The company traded as high as $69.14 and last traded at $69.14. 6,778 shares changed hands during trading, a decline of 39% from the average session volume of 11,072 shares. The stock had previously closed at $68.47.

DB Gold Double Long ETN Stock Up 1.9 %

The firm’s fifty day simple moving average is $67.10 and its 200-day simple moving average is $64.43.

Hedge Funds Weigh In On DB Gold Double Long ETN

A hedge fund recently raised its stake in DB Gold Double Long ETN stock. Flow Traders U.S. LLC grew its holdings in DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,028 shares of the company’s stock after purchasing an additional 3,272 shares during the period. Flow Traders U.S. LLC owned about 0.70% of DB Gold Double Long ETN worth $1,277,000 as of its most recent SEC filing.

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.