Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) Hits New 1-Year High – Time to Buy?

Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) reached a new 52-week high on Tuesday . The stock traded as high as $49.72 and last traded at $49.53, with a volume of 1514166 shares trading hands. The stock had previously closed at $49.33.

Putnam Focused Large Cap Value ETF Price Performance

The company has a fifty day simple moving average of $47.63 and a two-hundred day simple moving average of $46.50. The company has a market capitalization of $10.10 billion, a P/E ratio of 17.86 and a beta of 0.85.

Hedge Funds Weigh In On Putnam Focused Large Cap Value ETF

Several institutional investors have recently bought and sold shares of PVAL. Cullen Frost Bankers Inc. raised its holdings in Putnam Focused Large Cap Value ETF by 135.4% during the third 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 in the last quarter. Envestnet Asset Management Inc. raised its holdings in Putnam Focused Large Cap Value ETF by 266.3% during the third quarter. Envestnet Asset Management Inc. now owns 3,916,963 shares of the company’s stock valued at $167,333,000 after buying an additional 2,847,566 shares in the last quarter. Bank of America Corp DE raised its holdings 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 valued at $530,668,000 after buying an additional 2,239,115 shares in the last quarter. Morgan Stanley increased its stake in shares of Putnam Focused Large Cap Value ETF by 24.9% in the fourth quarter. Morgan Stanley now owns 9,566,730 shares of the company’s stock worth $435,956,000 after purchasing an additional 1,906,373 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Putnam Focused Large Cap Value ETF by 27.6% in the fourth quarter. Cetera Investment Advisers now owns 6,853,915 shares of the company’s stock worth $312,333,000 after purchasing an additional 1,484,571 shares during the period.

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.