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

DB Gold Double Long ETN (NYSEARCA:DGP)’s share price shot up 1% on Tuesday . The company traded as high as $66.07 and last traded at $66.07. 3,003 shares changed hands during trading, a decline of 66% from the average session volume of 8,807 shares. The stock had previously closed at $65.44.

DB Gold Double Long ETN Stock Up 1.0 %

The stock has a fifty day moving average of $68.23 and a 200-day moving average of $62.90.

Institutional Trading of DB Gold Double Long ETN

An institutional investor recently raised its position in DB Gold Double Long ETN stock. Flow Traders U.S. LLC lifted its holdings in DB Gold Double Long ETN (NYSEARCA:DGP) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,028 shares of the company’s stock after buying an additional 3,272 shares during the quarter. Flow Traders U.S. LLC owned 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.