DB Gold Double Long ETN (NYSEARCA:DGP) Trading 1.4% Higher – Still a Buy?

Shares of DB Gold Double Long ETN (NYSEARCA:DGP) were up 1.4% on Tuesday . The company traded as high as $77.73 and last traded at $77.05. Approximately 6,836 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 9,306 shares. The stock had previously closed at $76.00.

DB Gold Double Long ETN Trading Up 1.4 %

The firm’s 50 day simple moving average is $68.87 and its 200-day simple moving average is $65.97.

Institutional Investors 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 increased its position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 0.70% of DB Gold Double Long ETN worth $1,277,000 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.