Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) Sees Significant Drop in Short Interest

Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 457,983 shares, a drop of 54.8% from the June 30th total of 1,012,859 shares. Based on an average trading volume of 1,719,983 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Putnam Focused Large Cap Value ETF

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. purchased a new position in Putnam Focused Large Cap Value ETF during the 1st quarter worth $27,000. Parkside Financial Bank & Trust purchased a new stake in shares of Putnam Focused Large Cap Value ETF in the fourth quarter valued at about $52,000. MCF Advisors LLC acquired a new position in shares of Putnam Focused Large Cap Value ETF during the fourth quarter worth about $53,000. Global Retirement Partners LLC acquired a new position in shares of Putnam Focused Large Cap Value ETF during the fourth quarter worth about $58,000. Finally, International Assets Investment Management LLC purchased a new position in Putnam Focused Large Cap Value ETF during the fourth quarter worth about $62,000.

Putnam Focused Large Cap Value ETF Price Performance

Shares of PVAL stock traded up $0.43 during midday trading on Tuesday, hitting $53.00. The company had a trading volume of 1,682,708 shares, compared to its average volume of 1,655,562. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of 17.86 and a beta of 0.84. The company’s 50 day simple moving average is $51.24 and its 200 day simple moving average is $48.98. Putnam Focused Large Cap Value ETF has a 52-week low of $39.71 and a 52-week high of $53.16.

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.