Expat Bulgaria ETF Sells Stakes in IHB, Doverie, Buys Elana, M+S Hydraulic Shares
Expat Bulgaria SOFIX UCITS ETF has sold all shares it owned in Industrial Holding Bulgaria and divested almost its entire stake in Doverie United Holding, data from the ETF's web page shows. The sales came after Industrial Holding Bulgaria (IHB) and Doverie United Holding dropped out of the blue-chip SOFIX index of the stock exchange in Sofia. Expat Bulgaria SOFIX UCITS ETF, managed by Sofia-based Expat Asset Management, tracks the SOFIX via direct physical replication. Elana Agrocredit [BUL:0EA] and M+S Hydraulic [BUL:5MH] replaced IHB and Doverie United Holding following the SOFIX's latest rebalancing, which took place on Monday. Before the rebalancing, Expat Bulgaria SOFIX UCITS ETF owned 941,175 IHB shares, worth 851,763 levs based on their closing price on Friday, and 106,560 shares in Doverie United Holding, worth 167,299 levs at the time. Now, the ETF holds 10,000 shares in Doverie and no IHB shares. Meanwhile, since Monday the ETF has acquired 271,859 shares in Elana Agrocredit worth 320,794 levs based on their last closing price, and 92,518 shares in M+S Hydraulic worth 744,770 levs.