DB Gold Double Long ETN (NYSEARCA:DGP) Trading Down 2.9% – Here’s What Happened

DB Gold Double Long ETN (NYSEARCA:DGP)’s share price traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $215.00 and last traded at $215.01. 30,844 shares changed hands during trading, a decline of 58% from the average session volume of 73,460 shares. The stock had previously closed at $221.48.

DB Gold Double Long ETN Stock Performance

The company has a fifty day simple moving average of $181.88 and a 200-day simple moving average of $147.35.

Institutional Trading of DB Gold Double Long ETN

An institutional investor recently raised its position in DB Gold Double Long ETN stock. Flow Traders U.S. LLC boosted its holdings in shares of DB Gold Double Long ETN (NYSEARCA:DGP) by 418.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,730 shares of the company’s stock after buying an additional 24,797 shares during the period. Flow Traders U.S. LLC owned approximately 1.92% of DB Gold Double Long ETN worth $3,081,000 as of its most recent filing with the Securities and Exchange Commission.

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.