Short Interest in Hennessy Advisors, Inc. (NASDAQ:HNNA) Increases By 49.2%

Hennessy Advisors, Inc. (NASDAQ:HNNA) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 9,413 shares, an increase of 49.2% from the December 15th total of 6,309 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily volume of 28,254 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 28,254 shares, the short-interest ratio is currently 0.3 days. Approximately 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Hennessy Advisors

A number of hedge funds have recently bought and sold shares of the company. Truffle Hound Capital LLC raised its stake in Hennessy Advisors by 241.8% during the 3rd quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock valued at $1,576,000 after buying an additional 106,726 shares during the last quarter. Navellier & Associates Inc. grew its holdings in shares of Hennessy Advisors by 72.2% in the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock worth $770,000 after acquiring an additional 30,889 shares during the period. Citadel Advisors LLC purchased a new stake in Hennessy Advisors during the third quarter valued at $218,000. Evergreen Capital Management LLC purchased a new stake in Hennessy Advisors during the second quarter valued at $190,000. Finally, Susquehanna International Group LLP lifted its holdings in 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 period. Institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Stock Down 1.4%

Shares of Hennessy Advisors stock traded down $0.14 during midday trading on Friday, hitting $10.22. The company had a trading volume of 4,842 shares, compared to its average volume of 26,006. Hennessy Advisors has a 52-week low of $8.43 and a 52-week high of $13.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 12.72 and a current ratio of 12.73. The stock has a market capitalization of $80.64 million, a P/E ratio of 8.11 and a beta of 0.64. The company has a 50 day moving average of $9.88 and a 200 day moving average of $10.76.

Hennessy Advisors Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.1375 per share. The ex-dividend date was Wednesday, November 12th. This represents a $0.55 annualized dividend and a dividend yield of 5.4%. Hennessy Advisors’s dividend payout ratio (DPR) is presently 43.65%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, 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.