Alibaba’s expected market value has recently been boosted to $21.8 billion, but if the stock doubled on Friday, that would give it a larger weight in FPX than well-known firms such as Kraft Foods (NasdaqGS: KRFT), Kinder Morgan Inc. (NYSE: KMI) and Elon Musk’s Tesla (NasdaqGS: TSLA).
Another First Trust ETF, though it has yet to debut, will hold Alibaba as well. First Trust has filed plans for the First Trust International IPO ETF, which will track the IPOX International Index. That ETF is expected to debut on Oct. 8 on the NASDAQ Stock Market under the ticker “FPXI.” Alibaba is eligible for inclusion in the IPOX International Index.
First Trust US IPO Index Fund
Tom Lydon’s clients own shares of Facebook.