Hennessy Advisors (NASDAQ:HNNA) Shares Down 0.1% – Should You Sell?

Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) dropped 0.1% on Tuesday . The company traded as low as $12.13 and last traded at $12.65. Approximately 21,221 shares traded hands during mid-day trading, an increase of 137% from the average daily volume of 8,944 shares. The stock had previously closed at $12.66.

Hennessy Advisors Stock Performance

The company has a 50-day moving average of $10.45 and a 200-day moving average of $9.20. The company has a market cap of $97.15 million, a PE ratio of 16.01 and a beta of 0.80. The company has a quick ratio of 17.39, a current ratio of 17.39 and a debt-to-equity ratio of 0.44.

Hennessy Advisors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.138 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend was Thursday, November 14th. Hennessy Advisors’s dividend payout ratio is 69.62%.

Institutional Trading of Hennessy Advisors

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Hennessy Advisors by 35.5% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after acquiring an additional 11,877 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Hennessy Advisors during the 3rd quarter valued at $518,000. Finally, Renaissance Technologies LLC raised its stake in shares of Hennessy Advisors by 1.9% during the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock worth $681,000 after purchasing an additional 1,813 shares during the period. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an employee 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.