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

iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $51.91 and last traded at $51.87, with a volume of 11655 shares trading hands. The stock had previously closed at $51.35.

iPath Bloomberg Commodity Index Total Return ETN Stock Up 0.1%

The firm has a fifty day simple moving average of $47.45 and a two-hundred day simple moving average of $47.13.

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 stock. BNP Paribas Financial Markets purchased a new stake in iPath Bloomberg Commodity Index Total Return ETN during the 3rd quarter worth approximately $11,673,000. Heartland Bank & Trust Co purchased a new position in shares of iPath Bloomberg Commodity Index Total Return ETN in the second quarter worth $8,639,000. Stillwater Private Wealth LLC purchased a new position in shares of iPath Bloomberg Commodity Index Total Return ETN in the first quarter worth $1,135,000. Ameriprise Financial Inc. lifted its stake in shares of iPath Bloomberg Commodity Index Total Return ETN by 6.8% during the third quarter. Ameriprise Financial Inc. now owns 209,728 shares of the company’s stock worth $7,433,000 after buying an additional 13,426 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of iPath Bloomberg Commodity Index Total Return ETN by 2,551.5% during the fourth quarter. Parallel Advisors LLC now owns 9,015 shares of the company’s stock worth $339,000 after buying an additional 8,675 shares during the period.

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.