Hennessy Advisors, Inc. (NASDAQ:HNNA) Short Interest Down 89.1% in December

Hennessy Advisors, Inc. (NASDAQ:HNNA) was the target of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 6,309 shares, a drop of 89.1% from the November 30th total of 57,871 shares. Based on an average daily trading volume, of 17,461 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are sold short. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 17,461 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On Hennessy Advisors

Several hedge funds have recently made changes to their positions in HNNA. Geode Capital Management LLC grew its holdings 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 purchasing an additional 1,014 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after buying an additional 1,072 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in shares of Hennessy Advisors by 1.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 68,600 shares of the asset manager’s stock worth $864,000 after buying an additional 1,204 shares in the last quarter. Susquehanna International Group LLP raised 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 valued at $280,000 after acquiring an additional 13,819 shares during the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in shares of Hennessy Advisors in the 2nd quarter worth approximately $190,000. Institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Stock Performance

Shares of Hennessy Advisors stock traded up $0.12 during midday trading on Friday, hitting $9.46. The company had a trading volume of 100,343 shares, compared to its average volume of 12,111. Hennessy Advisors has a 1-year low of $8.43 and a 1-year high of $13.54. The business’s 50 day simple moving average is $9.83 and its two-hundred day simple moving average is $10.98. The stock has a market cap of $74.64 million, a PE ratio of 7.51 and a beta of 0.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 12.73 and a quick ratio of 12.72.

Hennessy Advisors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th were given a $0.1375 dividend. This represents a $0.55 annualized dividend and a yield of 5.8%. The ex-dividend date was Wednesday, November 12th. Hennessy Advisors’s dividend payout ratio (DPR) is currently 43.65%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Hennessy Advisors in a report on Tuesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Hennessy Advisors presently has an average rating of “Hold”.

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.