iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP) Sets New 1-Year High – Time to Buy?

Shares of iPath Bloomberg Commodity Index Total Return ETN (NYSEARCA:DJP) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $36.94 and last traded at $37.0240, with a volume of 42864 shares trading hands. The stock had previously closed at $36.58.

iPath Bloomberg Commodity Index Total Return ETN Price Performance

The stock’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $34.66.

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

Institutional investors have recently modified their holdings of the stock. Richardson Capital Management LLC bought a new stake in shares of iPath Bloomberg Commodity Index Total Return ETN during the third quarter valued at approximately $31,000. SVB Wealth LLC acquired a new position in iPath Bloomberg Commodity Index Total Return ETN during the 1st quarter worth $116,000. Lyell Wealth Management LP bought a new position in iPath Bloomberg Commodity Index Total Return ETN in the 2nd quarter valued at $216,000. Flow Traders U.S. LLC increased its stake in shares of iPath Bloomberg Commodity Index Total Return ETN by 98.5% in the 1st quarter. Flow Traders U.S. LLC now owns 15,062 shares of the company’s stock valued at $532,000 after buying an additional 7,474 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of iPath Bloomberg Commodity Index Total Return ETN by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 16,974 shares of the company’s stock worth $602,000 after acquiring an additional 2,984 shares during the last quarter.

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.