DB Gold Short ETN (NYSEARCA:DGZ) Sees Significant Drop in Short Interest

DB Gold Short ETN (NYSEARCA:DGZ) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 4,929 shares, a drop of 48.9% from the August 15th total of 9,655 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 1,049 shares, the days-to-cover ratio is currently 4.7 days.

DB Gold Short ETN Trading Down 7.3%

NYSEARCA DGZ traded down $0.38 during trading hours on Wednesday, reaching $4.81. 3,810 shares of the company’s stock traded hands, compared to its average volume of 7,949. DB Gold Short ETN has a 52-week low of $4.10 and a 52-week high of $7.41. The firm has a 50-day simple moving average of $5.41 and a 200 day simple moving average of $5.37.

DB Gold Short ETN Company Profile

The DB Gold Short Exchange Traded Notes (DGZ) is an exchange-traded fund that mostly invests in gold commodities. The fund provides monthly inverse exposure to the performance of gold futures contract. The notes index selects contracts based on the shape of the futures curve to minimize contango. DGZ was launched on Feb 27, 2008 and is issued by DB.