---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-026968"
form_type: "8-K"
ticker: "HNNA"
cik: "0001145255"
company_name: "HENNESSY ADVISORS INC"
filed_at: "2022-12-22T23:59:59+00:00"
generated_at: "2026-06-20T23:50:58.596997+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Hennessy Advisors completes $43M acquisition of Stance ESG ETF, its 11th deal

## Summary
- Acquired assets of Stance Equity ESG Large Cap Core ETF (STNC) and reorganized it as Hennessy Stance ESG Large Cap ETF.
- Transaction adds approximately $43 million in assets under management.
- Stance Capital and Vident Investment Advisory become sub-advisors; portfolio managers Bill Davis and Kyle Balkissoon continue.
- This is Hennessy's 11th successful asset purchase, expanding its product offerings into the ETF market.

## SEC filing metadata
- accession: 0000950170-22-026968
- form_type: 8-K
- ticker: HNNA
- cik: 0001145255
- company_name: HENNESSY ADVISORS INC
- filed_at: 2022-12-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1145255/000095017022026968/0000950170-22-026968-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1145255/000095017022026968/hnna-20221222.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-026968
- JSON: https://secwatch.observer/filing/0000950170-22-026968.json
- Plain text: https://secwatch.observer/filing/0000950170-22-026968.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.