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

Shares of Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $52.33 and last traded at $52.32, with a volume of 1015567 shares changing hands. The stock had previously closed at $51.80.

Putnam Focused Large Cap Value ETF Trading Up 1.0%

The company has a 50 day simple moving average of $50.99 and a 200 day simple moving average of $48.76. The stock has a market capitalization of $12.89 billion, a PE ratio of 17.86 and a beta of 0.84.

Institutional Investors Weigh In On Putnam Focused Large Cap Value ETF

Several large investors have recently modified their holdings of PVAL. Royal Bank of Canada increased its stake in Putnam Focused Large Cap Value ETF by 14.7% in the 1st quarter. Royal Bank of Canada now owns 73,471 shares of the company’s stock valued at $2,798,000 after buying an additional 9,442 shares during the period. Jane Street Group LLC purchased a new stake in shares of Putnam Focused Large Cap Value ETF in the first quarter valued at about $2,380,000. JPMorgan Chase & Co. boosted its holdings in shares of Putnam Focused Large Cap Value ETF by 124.2% in the second quarter. JPMorgan Chase & Co. now owns 27,867 shares of the company’s stock valued at $1,121,000 after acquiring an additional 15,435 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Putnam Focused Large Cap Value ETF during the second quarter worth about $94,000. Finally, Brown Advisory Inc. increased its stake in shares of Putnam Focused Large Cap Value ETF by 2.4% during the second quarter. Brown Advisory Inc. now owns 12,602 shares of the company’s stock worth $507,000 after acquiring an additional 300 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.