iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP) Hits New 12-Month High – Time to Buy?

iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP) hit a new 52-week high on Tuesday . The company traded as high as $52.27 and last traded at $52.1840, with a volume of 1499 shares traded. The stock had previously closed at $51.97.

iPath Bloomberg Commodity Index Total Return ETN Stock Up 1.0%

The stock’s fifty day simple moving average is $47.94 and its 200 day simple moving average is $47.37.

Hedge Funds Weigh In On iPath Bloomberg Commodity Index Total Return ETN

Hedge funds have recently made changes to their positions in the company. Highland Investment Advisors LLC purchased a new stake in iPath Bloomberg Commodity Index Total Return ETN in the second quarter valued at approximately $41,000. Continuum Advisory LLC acquired a new stake in iPath Bloomberg Commodity Index Total Return ETN during the 2nd quarter valued at approximately $27,000. Heartland Bank & Trust Co acquired a new stake in iPath Bloomberg Commodity Index Total Return ETN during the 2nd quarter valued at approximately $8,639,000. CoreCap Advisors LLC boosted its holdings in shares of iPath Bloomberg Commodity Index Total Return ETN by 1.8% in the 2nd quarter. CoreCap Advisors LLC now owns 194,331 shares of the company’s stock valued at $8,494,000 after acquiring an additional 3,393 shares during the last quarter. Finally, Stillwater Private Wealth LLC acquired a new stake in shares of iPath Bloomberg Commodity Index Total Return ETN in the first quarter worth $1,135,000.

About iPath Bloomberg Commodity Index Total Return ETN

The iPath Bloomberg Commodity Index Total Return ETN (DJP) is an exchange-traded note that is based on the Bloomberg Commodity index. The fund tracks a broad basket of commodity contracts with varying roll schedules. Contract maturity can range from one to five months. DJP was launched on Jun 6, 2006 and is issued by iPath.