DB Gold Double Long ETN (NYSEARCA:DGP) Short Interest Down 73.3% in August

DB Gold Double Long ETN (NYSEARCA:DGP) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totaling 3,056 shares, a drop of 73.3% from the August 15th total of 11,459 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 187,442 shares, the days-to-cover ratio is presently 0.0 days.

More DB Gold Double Long ETN News

Here are the key news stories impacting DB Gold Double Long ETN this week:

• Positive Sentiment: Gold rebounded as a softer U.S. dollar and lower crude-oil prices eased pressure from the previous session’s inflation-driven decline. Gold held support near $4,300, improving the near-term outlook for DGP. Gold price holds $4,300 support as CPI lifts Fed-hike odds – Kitco PM Report
• Positive Sentiment: Weak consumer sentiment and sharply higher inflation expectations may support gold’s safe-haven appeal, while analysts argue that a potential Federal Reserve rate hike should not derail gold’s longer-term bullish trend. Gold price holds near high after preliminary Consumer Sentiment falls to 47.8
• Positive Sentiment: Technical analysts say gold’s defense of its 200-day exponential moving average keeps a move toward $4,500 possible; a breakout above approximately $4,443 could signal another bullish leg. Gold Price Forecast: Bulls Defend 200-Day EMA After Hot CPI
• Neutral Sentiment: DGP’s short interest fell 73.3% in August to only 0.2% of shares outstanding. The reduction suggests limited bearish positioning, but the very low short-interest ratio means short covering is unlikely to be a major catalyst.
• Negative Sentiment: Hotter inflation data and rising odds of a Federal Reserve rate hike next week are weighing on gold by supporting interest rates and Treasury yields. Analysts warn that a break below key support could trigger additional fund and CTA selling. The Fed can hike, but it won’t derail gold’s long-term bull market – analysts

Institutional Investors 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 purchased a new stake in shares of DB Gold Double Long ETN (NYSEARCA:DGP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent SEC filing.

DB Gold Double Long ETN Price Performance

Shares of DGP stock traded up $0.79 during trading hours on Friday, reaching $156.78. 128,964 shares of the company were exchanged, compared to its average volume of 153,167. DB Gold Double Long ETN has a fifty-two week low of $117.07 and a fifty-two week high of $252.75. The stock’s fifty day moving average is $147.99 and its two-hundred day moving average is $167.28.

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.