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

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

DB Gold Double Long ETN Price Performance

The stock has a 50-day moving average of $67.02 and a 200-day moving average of $64.34.

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 raised its holdings in DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,028 shares of the company’s stock after buying 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 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.