Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) Sees Large Volume Increase – Still a Buy?

Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) shares saw strong trading volume on Wednesday . 880,422 shares traded hands during trading, an increase of 143% from the previous session’s volume of 362,405 shares.The stock last traded at $37.98 and had previously closed at $37.78.

Putnam Focused Large Cap Value ETF Price Performance

The stock has a market cap of $2.22 billion, a P/E ratio of 19.44 and a beta of 0.90. The stock’s 50 day simple moving average is $38.42 and its two-hundred day simple moving average is $38.21.

Hedge Funds Weigh In On Putnam Focused Large Cap Value ETF

Several institutional investors and hedge funds have recently modified their holdings of PVAL. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Putnam Focused Large Cap Value ETF during the fourth quarter worth about $28,000. Comerica Bank lifted its position in Putnam Focused Large Cap Value ETF by 5.0% during the fourth quarter. Comerica Bank now owns 5,509 shares of the company’s stock worth $204,000 after purchasing an additional 260 shares during the period. LaSalle St. Investment Advisors LLC bought a new stake in Putnam Focused Large Cap Value ETF during the fourth quarter worth about $210,000. Raymond James Financial Inc. bought a new stake in Putnam Focused Large Cap Value ETF during the fourth quarter worth about $212,000. Finally, World Investment Advisors bought a new position in shares of Putnam Focused Large Cap Value ETF in the fourth quarter worth about $240,000.

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.