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PowerShares DB Gold Double Long ETN
The PowerShares DB Gold Double Long ETN (NYSE Arca: DGP) is a double long gold ETF, although technically it is a gold ETN or Exchange Traded Note issued by the London branch of Deutsche Bank AG, that seeks to replicate the double long or 2x the investment results of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold™. This is achieved through the investment in variuos gold futures contracts and treasury bills.
While considered a double long or 2x long gold ETF, DGP should not be construed to be a perfect double long exposure to the spot price of gold bullion. Because it achieves this double long effect through investing, and reinvesting, in gold futures contracts, there is a tracking error inherent in these types of ETFs and careful consideration should be paid by investors before investing in this type of leveraged long products.
The PowerShares DB Gold Double Long ETN (DGP) vital stats:
Symbol: DGP Exchange: NYSE Arca Expense Ratio: 0.75% Dividend Yield: NA Price at issuance: $25 Options: No Inception Date: 2/27/2008 Maturity Date: 2/15/38
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