iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP) Hits New 52-Week High – Should You Buy?

iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $40.17 and last traded at $40.1010, with a volume of 36774 shares traded. The stock had previously closed at $39.17.

iPath Bloomberg Commodity Index Total Return ETN Stock Up 2.3%

The company has a 50 day moving average of $37.87 and a 200 day moving average of $35.99.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Lyell Wealth Management LP purchased a new stake in shares of iPath Bloomberg Commodity Index Total Return ETN in the second quarter valued at approximately $216,000. Nvwm LLC boosted its stake in iPath Bloomberg Commodity Index Total Return ETN by 45.3% during the third quarter. Nvwm LLC now owns 25,060 shares of the company’s stock worth $888,000 after buying an additional 7,815 shares during the last quarter. CoreCap Advisors LLC boosted its stake in iPath Bloomberg Commodity Index Total Return ETN by 3.3% during the third quarter. CoreCap Advisors LLC now owns 178,012 shares of the company’s stock worth $6,309,000 after buying an additional 5,670 shares during the last quarter. Bruce G. Allen Investments LLC grew its holdings in iPath Bloomberg Commodity Index Total Return ETN by 5.0% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 102,417 shares of the company’s stock valued at $3,630,000 after buying an additional 4,909 shares in the last quarter. Finally, Richardson Capital Management LLC acquired a new stake in shares of iPath Bloomberg Commodity Index Total Return ETN in the 3rd quarter worth $31,000.

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.