DB Gold Double Long ETN (NYSEARCA:DGP) Shares Up 7.3% – What’s Next?

DB Gold Double Long ETN (NYSEARCA:DGP)’s share price traded up 7.3% during trading on Tuesday . The company traded as high as $197.02 and last traded at $194.25. 60,012 shares changed hands during mid-day trading, a decline of 6% from the average session volume of 63,868 shares. The stock had previously closed at $181.01.

DB Gold Double Long ETN Stock Performance

The firm’s 50 day simple moving average is $162.95 and its 200-day simple moving average is $135.70.

Institutional Investors Weigh In On DB Gold Double Long ETN

An institutional investor recently bought a new position in DB Gold Double Long ETN stock. Redwood Investment Management LLC acquired a new position in shares of DB Gold Double Long ETN (NYSEARCA:DGP) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,000 shares of the company’s stock, valued at approximately $201,000. Redwood Investment Management LLC owned 0.13% of DB Gold Double Long ETN 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.