Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) Sets New 12-Month High – Still a Buy?

Shares of Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) reached a new 52-week high on Monday . The stock traded as high as $52.79 and last traded at $52.73, with a volume of 202731 shares traded. The stock had previously closed at $52.41.

Putnam Focused Large Cap Value ETF Stock Up 0.2%

The stock has a fifty day moving average of $51.18 and a 200-day moving average of $48.94. The firm has a market capitalization of $12.81 billion, a P/E ratio of 17.86 and a beta of 0.84.

Hedge Funds Weigh In On Putnam Focused Large Cap Value ETF

Several hedge funds have recently made changes to their positions in PVAL. Processus Wealth & Capital Management LLC raised its holdings in shares of Putnam Focused Large Cap Value ETF by 7.5% in the second quarter. Processus Wealth & Capital Management LLC now owns 14,486 shares of the company’s stock valued at $738,000 after purchasing an additional 1,011 shares during the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in Putnam Focused Large Cap Value ETF by 2.9% during the second quarter. Redhawk Wealth Advisors Inc. now owns 386,316 shares of the company’s stock worth $19,683,000 after purchasing an additional 11,020 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Putnam Focused Large Cap Value ETF by 36.2% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 13,400 shares of the company’s stock worth $683,000 after purchasing an additional 3,561 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Putnam Focused Large Cap Value ETF by 92.0% during the second quarter. Wealthcare Advisory Partners LLC now owns 58,677 shares of the company’s stock worth $2,990,000 after purchasing an additional 28,115 shares during the last quarter. Finally, First Bank & Trust bought a new position in Putnam Focused Large Cap Value ETF in the second quarter valued at $496,000.

About Putnam Focused Large Cap Value ETF

The Putnam Focused Large Cap Value ETF (PVAL) is an exchange-traded fund that mostly invests in large cap equity. The fund is an actively-managed, non-transparent ETF that provides exposure to large-cap value companies in the US. The fund utilizes the Fidelity non-transparent model. PVAL was launched on May 25, 2021 and is managed by Putnam.