Hennessy Advisors (NASDAQ:HNNA) Share Price Passes Below 200-Day Moving Average – Should You Sell?

Hennessy Advisors, Inc. (NASDAQ:HNNA) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.78 and traded as low as $10.22. Hennessy Advisors shares last traded at $10.22, with a volume of 4,842 shares.

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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Hennessy Advisors Stock Down 1.4%

The company has a quick ratio of 12.72, a current ratio of 12.73 and a debt-to-equity ratio of 0.41. The stock has a market cap of $80.64 million, a PE ratio of 8.11 and a beta of 0.64. The firm has a fifty day moving average of $9.88 and a 200 day moving average of $10.78.

Hennessy Advisors Announces Dividend

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

Hedge Funds Weigh In On Hennessy Advisors

Hedge funds have recently added to or reduced their stakes in the stock. Truffle Hound Capital LLC raised its holdings in Hennessy Advisors by 241.8% during the third quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock worth $1,576,000 after purchasing an additional 106,726 shares in the last quarter. Navellier & Associates Inc. raised its stake in Hennessy Advisors by 72.2% during the 3rd 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 in the last quarter. Citadel Advisors LLC acquired a new stake in Hennessy Advisors during the 3rd quarter worth $218,000. Evergreen Capital Management LLC purchased a new stake in Hennessy Advisors in the second quarter valued at $190,000. Finally, Susquehanna International Group LLP boosted its stake 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 in the last quarter. 10.31% of the stock is currently owned by hedge funds and other institutional investors.

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.