DB Gold Double Long ETN (NYSEARCA:DGP) Shares Up 4.2% – Here’s What Happened

DB Gold Double Long ETN (NYSEARCA:DGP) rose 4.2% on Tuesday . The company traded as high as $196.57 and last traded at $196.00. Approximately 280,044 shares traded hands during trading, an increase of 144% from the average daily volume of 114,648 shares. The stock had previously closed at $188.16.

DB Gold Double Long ETN Trading Up 4.2%

The company has a 50 day simple moving average of $203.17 and a 200-day simple moving average of $175.87.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake 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) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.