Putnam BDC Income ETF (NYSEARCA:PBDC) Shares Down 0.9% – Here’s Why

Putnam BDC Income ETF (NYSEARCA:PBDC) shares traded down 0.9% during mid-day trading on Monday . The stock traded as low as $26.33 and last traded at $26.65. Approximately 195,887 shares were traded during mid-day trading, an increase of 38% from the average session volume of 142,285 shares. The stock had previously closed at $26.90.

Putnam BDC Income ETF Price Performance

The firm has a market capitalization of $278.49 million, a P/E ratio of 10.61 and a beta of 0.52. The stock’s fifty day simple moving average is $26.99 and its 200 day simple moving average is $27.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PBDC. Raymond James Financial Inc. raised its stake in shares of Putnam BDC Income ETF by 60.4% during the 2nd quarter. Raymond James Financial Inc. now owns 188,406 shares of the company’s stock worth $6,376,000 after acquiring an additional 70,913 shares in the last quarter. Corient Private Wealth LLC boosted its stake in Putnam BDC Income ETF by 30.8% in the second quarter. Corient Private Wealth LLC now owns 81,114 shares of the company’s stock valued at $2,745,000 after acquiring an additional 19,086 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Putnam BDC Income ETF by 27.5% in the third quarter. Envestnet Asset Management Inc. now owns 22,013 shares of the company’s stock worth $700,000 after purchasing an additional 4,751 shares during the last quarter. UBS Group AG grew its holdings in Putnam BDC Income ETF by 643.0% in the third quarter. UBS Group AG now owns 17,751 shares of the company’s stock worth $564,000 after purchasing an additional 15,362 shares during the last quarter. Finally, Prosperity Financial Group Inc. increased its position in shares of Putnam BDC Income ETF by 13.4% during the third quarter. Prosperity Financial Group Inc. now owns 55,012 shares of the company’s stock worth $1,748,000 after purchasing an additional 6,482 shares in the last quarter.

About Putnam BDC Income ETF

The Putnam BDC Income ETF (PBDC) is an exchange-traded fund that mostly invests in financials equity. The fund is actively managed to hold a portfolio of US business development companies (BDCs) whose principal business is to invest in, lend capital to, or provide services to privately held or thinly traded US companies. PBDC was launched on Sep 29, 2022 and is managed by Putnam.