DB Gold Double Long ETN (NYSEARCA:DGP – Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 11,459 shares, an increase of 138.7% from the July 30th total of 4,801 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average daily volume of 156,935 shares, the days-to-cover ratio is currently 0.1 days.
Hedge Funds Weigh In On DB Gold Double Long ETN
A hedge fund recently bought a new position in DB Gold Double Long ETN stock. Redwood Investment Management LLC bought a new position in shares of DB Gold Double Long ETN (NYSEARCA:DGP – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned about 0.13% of DB Gold Double Long ETN at the end of the most recent quarter.
DB Gold Double Long ETN Stock Down 6.7%
DB Gold Double Long ETN stock traded down $11.36 during trading hours on Friday, hitting $158.65. The stock had a trading volume of 188,178 shares, compared to its average volume of 152,544. DB Gold Double Long ETN has a 1-year low of $107.21 and a 1-year high of $252.75. The stock’s fifty day moving average is $142.73 and its two-hundred day moving average is $171.06.
Key Headlines Impacting DB Gold Double Long ETN
- Positive Sentiment: Longer-term demand for gold remains supported by concerns over America’s roughly $40 trillion debt burden, potential currency debasement and global de-dollarization. Analysts argue these fiscal pressures could continue driving investors and central banks toward physical gold. Gold’s renewed momentum is sending a warning about America’s $40 trillion debt
- Positive Sentiment: Several analysts continue to view gold’s broader uptrend as intact, with technical support near $4,500-$4,527 and potential upside toward $4,774-$4,800 if buyers regain control. Gold Price Tests $4,527 Support With $4,774 Target in Play
- Neutral Sentiment: Investors are focused on Federal Reserve Chair Kevin Warsh’s Jackson Hole remarks and the outlook for interest rates. A divided Fed could create significant volatility for gold and DGP, depending on whether markets favor rate cuts or continued tightening. Gold is ‘on the radar screen’ and the Fed is split ‘down the middle,’ former Fed president says
- Negative Sentiment: Gold faced heavy selling after Warsh emphasized that controlling inflation is a greater priority than supporting a weakening labor market. The comments revived expectations for a September rate hike, lifted the dollar and Treasury yields, and reduced gold’s appeal as a non-yielding asset. Gold prices drop 1% as Warsh says inflation is a bigger concern than a slowing labor market
- Negative Sentiment: Gold broke below its 200-day moving average after falling sharply over four sessions. The technical breakdown increases downside risk and is particularly unfavorable for DGP because its leveraged structure magnifies daily moves in gold. Gold News: Gold Price Breaks 200-Day MA as Warsh Revives September Hike Bets
- Negative Sentiment: Although revised payroll data showed weaker employment over the prior year and consumer sentiment deteriorated, easing near-term inflation expectations and the Fed’s inflation focus outweighed those supportive factors for gold. Spot gold falls below $4,550/oz after final Consumer Sentiment falls to 51.7
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.
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