Hennessy Advisors, Inc. (NASDAQ:HNNA) Sees Large Decline in Short Interest

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the recipient of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 6,309 shares, a decrease of 89.1% from the November 30th total of 57,871 shares. Based on an average daily volume of 17,461 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are short sold. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 17,461 shares, the short-interest ratio is currently 0.4 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a research note on Tuesday. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors and hedge funds have recently modified their holdings of the business. Truffle Hound Capital LLC lifted its position in shares of Hennessy Advisors by 241.8% during the third quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock worth $1,576,000 after acquiring an additional 106,726 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of Hennessy Advisors by 9.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock worth $791,000 after buying an additional 6,714 shares during the last quarter. Navellier & Associates Inc. boosted its position in Hennessy Advisors by 72.2% during the 3rd quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after acquiring an additional 30,889 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Hennessy Advisors by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of Hennessy Advisors by 108.5% in the third quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after acquiring an additional 13,819 shares during the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

Hennessy Advisors Price Performance

HNNA stock traded down $0.09 during trading on Wednesday, hitting $9.37. The company had a trading volume of 47,120 shares, compared to its average volume of 13,879. Hennessy Advisors has a fifty-two week low of $8.43 and a fifty-two week high of $13.54. The company has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $10.99. The company has a current ratio of 12.73, a quick ratio of 12.72 and a debt-to-equity ratio of 0.41. The company has a market cap of $73.89 million, a P/E ratio of 7.43 and a beta of 0.61.

Hennessy Advisors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th were given a $0.1375 dividend. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.55 dividend on an annualized basis and a yield of 5.9%. Hennessy Advisors’s dividend payout ratio (DPR) is 43.65%.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.