First Trust Financials AlphaDEX Fund increased its stake in Freedom Holding Corp. becoming the second largest shareholder. This move affirms the attractiveness of the company to institutional investors.
Share Acquisition
First Trust Financials AlphaDEX Fund (NASDAQ: FXO) has acquired 185,000 shares of Freedom Holding Corp. (NASDAQ: FRHC). Following this transaction, the fund has become the second largest shareholder of the company after its founder and CEO, Timur Turlov.
Market and Financial Metrics
FRHC now holds a 1.22% weighting in the fund's index structure. FXO tracks the performance of the StrataQuant Financials Index, which includes companies from the financial services sector selected based on the AlphaDEX methodology. This methodology screens stocks based on fundamental growth and value factors, highlighting Freedom Holding's appeal as a company with significant growth potential.
Company Strategy and Future
Timur Turlov, CEO of the company, stated: “We are pleased to see that Freedom Holding has attracted the attention of such institutional investors as First Trust. This confirms our strategy of sustainable growth and digital transformation.” In recent months, the company has expanded its product range and continues to develop its financial ecosystem. International credit rating agency S&P Global Ratings has recently revised the outlook on Freedom Holding’s core operating subsidiaries from “Stable” to “Positive.”
The addition of FRHC to FXO's portfolio serves as further confirmation that Freedom Holding meets the stringent selection criteria of leading institutional investors and continues to solidify its position in the financial market.
