Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) Reaches New 1-Year High – Still a Buy?

Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) hit a new 52-week high on Thursday . The company traded as high as $49.44 and last traded at $49.41, with a volume of 2969908 shares. The stock had previously closed at $48.53.

Putnam Focused Large Cap Value ETF Price Performance

The company has a market capitalization of $10.02 billion, a P/E ratio of 17.86 and a beta of 0.85. The stock’s 50 day simple moving average is $47.49 and its two-hundred day simple moving average is $46.12.

Hedge Funds Weigh In On Putnam Focused Large Cap Value ETF

A number of institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of Putnam Focused Large Cap Value ETF by 44.4% in the first quarter. International Assets Investment Management LLC now owns 1,950 shares of the company’s stock worth $91,000 after acquiring an additional 600 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Putnam Focused Large Cap Value ETF in the first quarter worth about $8,910,000. Valmark Advisers Inc. raised its stake in shares of Putnam Focused Large Cap Value ETF by 173.5% in the first quarter. Valmark Advisers Inc. now owns 288,428 shares of the company’s stock worth $13,383,000 after acquiring an additional 182,954 shares during the last quarter. Castle Wealth Management LLC raised its stake in shares of Putnam Focused Large Cap Value ETF by 3.6% in the first quarter. Castle Wealth Management LLC now owns 222,590 shares of the company’s stock worth $10,328,000 after acquiring an additional 7,660 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Putnam Focused Large Cap Value ETF by 4,070.2% in the first quarter. Fifth Third Bancorp now owns 26,064 shares of the company’s stock worth $1,209,000 after acquiring an additional 25,439 shares during the last quarter.

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.