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PowerShares DB Gold Double Short ETN
The PowerShares DB Gold Double Short ETN (NYSE Arca: DZZ) is a double short 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 short or -2x the investment results of the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold™. This is achieved through the investment in certain gold futures contracts and treasury bills.
While considered a double short or an inverse gold ETF, DZZ should not be construed to be a perfect double net short hedge to the spot price of Gold bullion. Because it achieves this double short effect through investing, and reinvesting, in gold futures contracts, there is a significant tracking error inherent in these types of ETFs and careful consideration should be paid by investors before investing in this type of leveraged short products.
The PowerShares DB Gold Double Short ETN (DZZ) vital stats:
Symbol: DZZ 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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