DB Gold Double Long ETN (NYSEARCA:DGP) Short Interest Up 138.7% in August

DB Gold Double Long ETN (NYSEARCA:DGP) was the target of a large increase in short interest in 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 company’s stock are sold short. Based on an average daily trading volume, of 156,935 shares, the days-to-cover ratio is currently 0.1 days.

DB Gold Double Long ETN Stock Down 4.6%

NYSEARCA DGP traded down $7.88 on Friday, reaching $162.13. The company had a trading volume of 156,247 shares, compared to its average volume of 152,288. DB Gold Double Long ETN has a 1 year low of $107.21 and a 1 year high of $252.75. The firm has a 50-day moving average of $142.46 and a 200-day moving average of $171.14.

DB Gold Double Long ETN News Summary

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

• Positive Sentiment: Longer-term support remains constructive. Analysts cited persistent U.S. fiscal-debt concerns, de-dollarization and potential currency debasement as structural factors supporting gold, with UBS projecting prices could rise above $5,400 by next summer. Gold is a clear beneficiary of de-dollarization
• Positive Sentiment: Technical analysts said gold remains broadly bullish above the $4,500 area. Holding support near its 200-day average around $4,527 could preserve the possibility of a rebound toward roughly $4,774-$4,800, which would likely benefit DGP disproportionately. Gold Price Tests $4,527 Support With $4,774 Target in Play
• Neutral Sentiment: Gold is highly sensitive to upcoming Federal Reserve guidance. Traders are waiting for Warsh’s comments for indications on interest rates, inflation and the dollar, leaving DGP exposed to significant short-term volatility. Gold eases as Warsh, payroll revisions test Fed trade
• Negative Sentiment: Warsh emphasized that inflation is a greater concern than labor-market weakness and reaffirmed the Fed’s commitment to its 2% inflation target. The resulting expectations for tighter-for-longer policy lifted the pressure on non-yielding gold and weighed on DGP. Gold prices drop 1% as Warsh says inflation is a bigger concern
• Negative Sentiment: Gold fell toward the $4,550 area after August consumer sentiment declined to 51.7, while one-year inflation expectations eased. A relatively modest downward revision to payrolls also failed to generate enough support for the metal. Spot gold falls below $4,550

Institutional Investors Weigh In On DB Gold Double Long ETN

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