Hennessy Advisors (NASDAQ:HNNA) Stock Price Crosses Below 200-Day Moving Average of $8.41

Hennessy Advisors, Inc. (NASDAQ:HNNA – Get Rating) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.41 and traded as low as $6.85. Hennessy Advisors shares last traded at $6.90, with a volume of 21,617 shares trading hands.

Hennessy Advisors Price Performance

The company has a market cap of $52.27 million, a PE ratio of 10.45 and a beta of 0.90. The company has a quick ratio of 23.13, a current ratio of 23.13 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $7.52 and a 200-day simple moving average of $8.41.

Hennessy Advisors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 5th. Investors of record on Tuesday, May 23rd will be given a $0.138 dividend. The ex-dividend date is Monday, May 22nd. This represents a $0.55 dividend on an annualized basis and a yield of 8.00%. This is a positive change from Hennessy Advisors’s previous quarterly dividend of $0.14. Hennessy Advisors’s dividend payout ratio is currently 83.33%.

Institutional Investors Weigh In On Hennessy Advisors

Hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. lifted its holdings in Hennessy Advisors by 65.5% in the 4th quarter. Advisor Group Holdings Inc. now owns 4,550 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 1,800 shares in the last quarter. Bank of America Corp DE lifted its holdings in Hennessy Advisors by 30.0% in the 1st quarter. Bank of America Corp DE now owns 13,652 shares of the asset manager’s stock valued at $106,000 after purchasing an additional 3,151 shares in the last quarter. Burleson & Company LLC lifted its holdings in Hennessy Advisors by 83.6% in the 4th quarter. Burleson & Company LLC now owns 17,372 shares of the asset manager’s stock valued at $146,000 after purchasing an additional 7,908 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Hennessy Advisors by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 201,412 shares of the asset manager’s stock valued at $2,040,000 after purchasing an additional 1,148 shares in the last quarter. Hedge funds and other institutional investors own 13.92% of the company’s stock.

Hennessy Advisors Company Profile

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Hennessy Advisors, Inc investment management firm, which engages in managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. It manages domestic equity, multi-asset, or sector and specialty products. The company was founded by Neil Joseph Hennessy on February 1, 1989 and is headquartered in Novato, CA.