Cullen Frost Bankers Inc. Makes New $99.87 Million Investment in Putnam Focused Large Cap Value ETF $PVAL

Cullen Frost Bankers Inc. bought a new position in shares of Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,482,578 shares of the company’s stock, valued at approximately $99,874,000. Putnam Focused Large Cap Value ETF accounts for 1.3% of Cullen Frost Bankers Inc.’s portfolio, making the stock its 20th largest holding. Cullen Frost Bankers Inc. owned 2.77% of Putnam Focused Large Cap Value ETF as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Sowa Financial Group Inc. grew its holdings in Putnam Focused Large Cap Value ETF by 5.8% during the 2nd quarter. Sowa Financial Group Inc. now owns 519,537 shares of the company’s stock worth $20,901,000 after acquiring an additional 28,336 shares during the period. Stephens Inc. AR grew its holdings in Putnam Focused Large Cap Value ETF by 42.6% during the 2nd quarter. Stephens Inc. AR now owns 17,214 shares of the company’s stock worth $693,000 after acquiring an additional 5,144 shares during the period. Harbour Investments Inc. grew its holdings in Putnam Focused Large Cap Value ETF by 39.0% during the 2nd quarter. Harbour Investments Inc. now owns 107,854 shares of the company’s stock worth $4,339,000 after acquiring an additional 30,267 shares during the period. JGP Wealth Management LLC acquired a new stake in Putnam Focused Large Cap Value ETF during the 2nd quarter worth $228,000. Finally, RFG Advisory LLC bought a new position in shares of Putnam Focused Large Cap Value ETF during the second quarter worth $11,294,000.

Putnam Focused Large Cap Value ETF Stock Up 0.3%

Shares of NYSEARCA PVAL opened at $42.93 on Wednesday. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 17.86 and a beta of 0.89. Putnam Focused Large Cap Value ETF has a twelve month low of $32.83 and a twelve month high of $43.12. The company’s fifty day moving average is $42.17 and its 200-day moving average is $39.89.

Putnam Focused Large Cap Value ETF Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 8th. Stockholders of record on Monday, October 6th were paid a dividend of $0.1029 per share. The ex-dividend date was Monday, October 6th. This represents a $0.41 annualized dividend and a dividend yield of 1.0%.

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.