Focus Financial Network Inc. Cuts Stake in Putnam Focused Large Cap Value ETF $PVAL

Focus Financial Network Inc. reduced its position in Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) by 28.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 25,976 shares of the company’s stock after selling 10,204 shares during the period. Focus Financial Network Inc.’s holdings in Putnam Focused Large Cap Value ETF were worth $1,323,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PVAL. Bank of America Corp DE grew its holdings in Putnam Focused Large Cap Value ETF by 48.4% during the 1st quarter. Bank of America Corp DE now owns 35,914,629 shares of the company’s stock worth $1,666,439,000 after acquiring an additional 11,707,304 shares in the last quarter. Morgan Stanley raised its holdings in shares of Putnam Focused Large Cap Value ETF by 24.9% in the 4th quarter. Morgan Stanley now owns 9,566,730 shares of the company’s stock valued at $435,956,000 after purchasing an additional 1,906,373 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Putnam Focused Large Cap Value ETF by 21.6% in the 1st quarter. Cetera Investment Advisers now owns 8,337,155 shares of the company’s stock worth $386,844,000 after purchasing an additional 1,483,240 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Putnam Focused Large Cap Value ETF by 11.4% in the 1st quarter. Glenmede Trust Co. NA now owns 7,154,285 shares of the company’s stock worth $331,959,000 after purchasing an additional 734,798 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Putnam Focused Large Cap Value ETF by 17.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 6,852,855 shares of the company’s stock valued at $312,285,000 after purchasing an additional 1,009,485 shares in the last quarter.

Putnam Focused Large Cap Value ETF Stock Performance

NYSEARCA PVAL opened at $54.45 on Wednesday. The company has a market cap of $13.74 billion, a PE ratio of 17.86 and a beta of 0.84. The firm’s 50 day moving average price is $52.00 and its 200-day moving average price is $49.52. Putnam Focused Large Cap Value ETF has a 52-week low of $40.61 and a 52-week high of $54.63.

Putnam Focused Large Cap Value ETF 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.