Putnam PanAgora ESG Emerging Markets Equity ETF (NYSEARCA:PPEM) Stock Price Down 2.2% – Here’s What Happened

Putnam PanAgora ESG Emerging Markets Equity ETF (NYSEARCA:PPEM)’s share price dropped 2.2% during mid-day trading on Friday . The stock traded as low as $23.45 and last traded at $23.47. Approximately 386 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 14,971 shares. The stock had previously closed at $23.99.

Putnam PanAgora ESG Emerging Markets Equity ETF Trading Down 2.2%

The stock has a market cap of $8.21 million, a P/E ratio of 15.43 and a beta of 0.89. The company’s fifty day simple moving average is $20.98 and its 200-day simple moving average is $24.53.

Institutional Investors Weigh In On Putnam PanAgora ESG Emerging Markets Equity ETF

Several institutional investors and hedge funds have recently bought and sold shares of PPEM. Jane Street Group LLC bought a new stake in Putnam PanAgora ESG Emerging Markets Equity ETF in the 1st quarter valued at $4,296,000. Franklin Resources Inc. increased its holdings in Putnam PanAgora ESG Emerging Markets Equity ETF by 3.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,933,387 shares of the company’s stock valued at $53,032,000 after buying an additional 63,962 shares during the period. Citadel Advisors LLC bought a new stake in Putnam PanAgora ESG Emerging Markets Equity ETF in the 3rd quarter valued at $553,000. Finally, Cetera Investment Advisers bought a new stake in Putnam PanAgora ESG Emerging Markets Equity ETF in the 4th quarter valued at $267,000.

About Putnam PanAgora ESG Emerging Markets Equity ETF

The PortfolioPlus Emerging Markets ETF (PPEM) is an exchange-traded fund that mostly invests in total market equity. The fund actively invests in companies of any capitalization located in emerging markets. Selected companies are perceived to possess positive environmental, social, and governance criteria. PPEM was launched on Jan 19, 2023 and is managed by Putnam.