DB Gold Double Long ETN (NYSEARCA:DGP) Short Interest Update

by · The Markets Daily

DB Gold Double Long ETN (NYSEARCA:DGP – Get Free Report) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totaling 1,665 shares, a drop of 45.5% from the August 31st total of 3,056 shares. Based on an average trading volume of 145,696 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.1% of the shares of the stock are short sold.

Trending Headlines about DB Gold Double Long ETN

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

  • Positive Sentiment: Softer-than-expected August PCE inflation reduced immediate expectations for an October Fed rate hike, helping gold rebound from technical support. Lower yields and reduced rate-hike odds could support DGP if the trend continues. Gold rises as softer PCE cools October Fed hike odds
  • Positive Sentiment: Morgan Stanley’s Amy Gower said strong exchange-traded fund and central-bank demand could help gold return above $5,000 per ounce within a year, providing a favorable longer-term backdrop for the leveraged ETN. Gold price will break $5,000 per ounce
  • Neutral Sentiment: Analysts see potential for a stronger fourth quarter if yields ease or rate-cut expectations return, but gold’s non-yielding nature remains vulnerable while bond yields stay near multi-decade highs. Gold price could have a shinier Q4
  • Negative Sentiment: ADP reported 90,000 private-sector jobs added in September, exceeding expectations and signaling labor-market resilience. The data may reinforce a hawkish Fed outlook, lifting yields and weighing on gold and DGP. Gold faces new headwinds from strong private-sector job growth
  • Negative Sentiment: Gold’s recent break below key support has increased bearish technical pressure, with analysts warning that rallies may face resistance and that prices could fall toward $4,100. Gold support breakdown deepens bearish pressure

DB Gold Double Long ETN Stock Performance

Shares of DGP stock traded down $1.20 during trading hours on Wednesday, hitting $148.35. 213,730 shares of the company were exchanged, compared to its average volume of 151,336. The business’s 50-day simple moving average is $152.66 and its two-hundred day simple moving average is $160.46. DB Gold Double Long ETN has a one year low of $125.67 and a one year high of $252.75.

About DB Gold Double Long ETN

(Get Free Report)

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.

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