Hennessy Advisors Inc (NASDAQ:HNNA) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 85,400 shares, a drop of 10.5% from the January 15th total of 95,400 shares. Based on an average daily volume of 13,600 shares, the days-to-cover ratio is currently 6.3 days. Currently, 2.0% of the shares of the stock are sold short.
Institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management purchased a new position in shares of Hennessy Advisors during the fourth quarter worth approximately $182,000. Yorktown Management & Research Co Inc purchased a new position in shares of Hennessy Advisors during the third quarter worth approximately $212,000. Bank of America Corp DE raised its stake in shares of Hennessy Advisors by 23.6% during the fourth quarter. Bank of America Corp DE now owns 29,834 shares of the asset manager’s stock worth $301,000 after acquiring an additional 5,695 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Hennessy Advisors by 13.0% during the fourth quarter. Renaissance Technologies LLC now owns 123,725 shares of the asset manager’s stock worth $1,247,000 after acquiring an additional 14,201 shares in the last quarter. 10.92% of the stock is currently owned by institutional investors and hedge funds.
HNNA traded down $0.04 on Friday, reaching $10.63. The company had a trading volume of 14,907 shares. The business has a 50 day simple moving average of $10.27 and a 200 day simple moving average of $10.57. Hennessy Advisors has a 52-week low of $9.00 and a 52-week high of $12.78.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Monday, February 24th will be paid a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Friday, February 21st.
About Hennessy Advisors
Hennessy Advisors, Inc is publicly owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies.
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