Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) Hits New 52-Week High – What’s Next?

Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL)’s share price hit a new 52-week high on Friday . The stock traded as high as $44.79 and last traded at $44.8560, with a volume of 48434 shares. The stock had previously closed at $44.59.

Putnam Focused Large Cap Value ETF Stock Up 0.6%

The firm has a market capitalization of $5.11 billion, a PE ratio of 17.86 and a beta of 0.88. The business has a 50-day moving average price of $43.26 and a 200-day moving average price of $41.50.

Putnam Focused Large Cap Value ETF Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 8th. Shareholders of record on Monday, October 6th were issued a $0.1029 dividend. This represents a $0.41 annualized dividend and a yield of 0.9%. The ex-dividend date was Monday, October 6th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Putnam Focused Large Cap Value ETF by 22.0% during the third quarter. Bank of America Corp DE now owns 12,422,010 shares of the company’s stock worth $530,668,000 after purchasing an additional 2,239,115 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Putnam Focused Large Cap Value ETF by 135.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 5,843,370 shares of the company’s stock valued at $249,629,000 after buying an additional 3,360,792 shares during the period. Glenmede Investment Management LP increased its holdings in shares of Putnam Focused Large Cap Value ETF by 15.8% during the 3rd quarter. Glenmede Investment Management LP now owns 5,787,089 shares of the company’s stock worth $247,224,000 after buying an additional 789,767 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Putnam Focused Large Cap Value ETF by 12.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,889,690 shares of the company’s stock valued at $208,888,000 after buying an additional 533,046 shares during the period. Finally, UBS Group AG raised its position in shares of Putnam Focused Large Cap Value ETF by 4.5% during the 3rd quarter. UBS Group AG now owns 4,629,186 shares of the company’s stock valued at $197,759,000 after buying an additional 200,317 shares during the period.

Putnam Focused Large Cap Value ETF Company Profile

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.