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

Putnam Focused Large Cap Value ETF (NYSEARCA:PVAL) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 782,685 shares, a growth of 333.2% from the August 31st total of 180,670 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 1,642,387 shares, the short-interest ratio is currently 0.5 days.

Putnam Focused Large Cap Value ETF Price Performance

PVAL traded up $0.47 during trading on Friday, hitting $53.48. 1,047,210 shares of the stock traded hands, compared to its average volume of 1,628,494. The firm has a market capitalization of $14.36 billion, a P/E ratio of 17.86 and a beta of 0.84. Putnam Focused Large Cap Value ETF has a 12-month low of $41.58 and a 12-month high of $54.70. The firm has a 50-day moving average of $53.71 and a 200 day moving average of $50.88.

Hedge Funds Weigh In On Putnam Focused Large Cap Value ETF

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in Putnam Focused Large Cap Value ETF by 48.4% during the first quarter. Bank of America Corp DE now owns 35,914,629 shares of the company’s stock worth $1,666,439,000 after buying an additional 11,707,304 shares during the period. Cetera Investment Advisers increased its stake in shares of Putnam Focused Large Cap Value ETF by 21.6% in the first quarter. Cetera Investment Advisers now owns 8,337,155 shares of the company’s stock worth $386,844,000 after acquiring an additional 1,483,240 shares during the period. Bouchey Financial Group Ltd. acquired a new position in shares of Putnam Focused Large Cap Value ETF in the second quarter worth about $39,360,000. Envestnet Asset Management Inc. boosted its stake in shares of Putnam Focused Large Cap Value ETF by 16.4% in the second quarter. Envestnet Asset Management Inc. now owns 5,400,725 shares of the company’s stock worth $275,167,000 after acquiring an additional 762,099 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in 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 valued at $331,959,000 after buying an additional 734,798 shares in 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.