Putnam BDC Income ETF (NYSEARCA:PBDC) Stock Price Up 1.6% – Here’s Why

Putnam BDC Income ETF (NYSEARCA:PBDC) shares rose 1.6% on Friday . The company traded as high as $28.84 and last traded at $28.72. Approximately 94,430 shares changed hands during trading, a decline of 9% from the average daily volume of 104,033 shares. The stock had previously closed at $28.26.

Putnam BDC Income ETF Trading Up 1.6%

The stock has a market cap of $240.67 million, a P/E ratio of 10.61 and a beta of 0.58. The company’s fifty day simple moving average is $30.73 and its 200-day simple moving average is $31.60.

Putnam BDC Income ETF Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 19th were given a $0.8251 dividend. This represents a $3.30 annualized dividend and a yield of 11.5%. This is a boost from Putnam BDC Income ETF’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Friday, December 19th.

Institutional Investors Weigh In On Putnam BDC Income ETF

Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC acquired a new position in shares of Putnam BDC Income ETF in the 2nd quarter worth approximately $29,000. Apollon Wealth Management LLC bought a new stake in Putnam BDC Income ETF in the second quarter valued at $1,435,000. Allspring Global Investments Holdings LLC raised its stake in Putnam BDC Income ETF by 95.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 18,400 shares of the company’s stock worth $623,000 after acquiring an additional 9,000 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Putnam BDC Income ETF by 9.0% during the second quarter. D.A. Davidson & CO. now owns 15,036 shares of the company’s stock valued at $509,000 after acquiring an additional 1,245 shares during the period. Finally, Prosperity Financial Group Inc. boosted its stake in shares of Putnam BDC Income ETF by 8.5% in the 2nd quarter. Prosperity Financial Group Inc. now owns 48,530 shares of the company’s stock valued at $1,642,000 after purchasing an additional 3,810 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.