Business
Hennessy Advisors, Inc. Partners with Stance Capital, Completing its 11th Asset Purchase
NOVATO, Calif., Dec. 22, 2022 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ: HNNA) today announced that it has completed the transaction to become the
About this update from Hennessy Advisors, Inc.
[{"type":"text","content":"NOVATO, Calif., Dec. 22, 2022 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ: HNNA) today announced that it has completed the transaction to become the advisor of the Stance Equity ESG Large Cap Core ETF (NYSE: STNC) (the \"Stance ETF\"). As a result, the Stance ETF has been reorganized to become a series of Hennessy Funds Trust named the Hennessy Stance ESG Large Cap ETF (the \"Hennessy Stance ETF\").\nThis transaction represents approximately $43 million in assets. Stance Capital, LLC will sub-advise the Hennessy Stance ETF, meaning current Portfolio Managers Bill Davis and Kyle Balkissoon will continue providing day-to-day management of the Hennessy Stance ETF portfolio.\nNeil Hennessy, Chairman and CEO of Hennessy Advisors, Inc., noted, \"We want to welcome Stance Capital to our team of skilled sub-advisors, and want to thank the shareholders of the Stance ETF for their vote of confidence. This deal represents our eleventh successful acquisition, and we are excited to expand our product offerings into the ETF market.\"\n\"We are delighted to partner with Stance Capital, Vident Investment Advisory, and Blue Tractor Group for the Hennessy Stance ETF, and we are committed to providing a continuity of excellent service to our new shareholders,\" added Teresa M. Nilsen, President and Chief Operating Officer of Hennessy Advisors, Inc.\nBill Davis, Founder of Stance Capital remarked, \"We want to thank the entire team at Hennessy for making this a smooth and seamless transaction. We are enthusiastic to move forward with Hennessy Advisors, Inc. as our new advisor and we look forward to a promising future.\"\nAbout Hennessy Advisors, Inc.\nHennessy Advisors, Inc. is a publicly traded investment manager offering a broad range of domestic equity, multi-asset, and sector and specialty funds. Hennessy Advisors, Inc. is committed to providing superior service to shareholders and employing a consistent and disciplined approach to investing based on a buy and hold philosophy that rejects the idea of market timing.\nAdditional Information\nNothing in this press release shall be considered a solicitation to buy or an offer to sell a security to any person in any jurisdiction where such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.\nForward-Looking Statements\nThis press release conta...