August 6, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Hennessy Advisors, Inc. (OTCBB: HNNA) said that its board of directors has authorized the repurchase of up to one million shares of common stock.

Neil Hennessy, president and CEO of Hennessy Advisors, Inc., said, "We have evaluated a number of alternatives and have concluded that this repurchase program would be a smart use of a portion of the company's available cash reserves."

Repurchases under the program will be made using available cash resources, according to the company. The repurchase program continues indefinitely, but may be suspended or discontinued by the company at any time and without prior notice.

California-based Hennessy Advisors is an investment manager of a range of both domestic and international equity products.

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