Hennessy Advisors transfers ESG ETF listing to Nasdaq

In Novato, California, Hennessy Advisors, Inc. announced a significant decision regarding the Hennessy Stance ESG ETF's trading platform. Effective December 18, 2024, the ETF will move its listing from NYSE Arca, Inc. to The Nasdaq Stock Market LLC. This strategic transfer was approved by the Board of Trustees of the Hennessy Funds Trust during a meeting held on September 25, 2024. The move is anticipated to decrease annual expenses associated with maintaining the ETF's national securities exchange listing. The Hennessy Stance ESG ETF, which trades under the symbol "STNC," is a part of the Hennessy Funds Trust. Hennessy Advisors expects that the listing change will improve operational efficiency for the ETF. Additionally, Neil Hennessy, Chairman and CEO of Hennessy Advisors, emphasized the benefits of being listed on Nasdaq, suggesting it may offer improved visibility and trading opportunities. Such a transition reflects a broader trend within financial markets where ETFs are seeking platforms that facilitate better liquidity and lower costs. The shift also signifies Hennessy Advisors' commitment to adapting to market dynamics and enhancing the value for investors in the Stance ETF. As the move date approaches, market participants and investors will monitor the transition closely, evaluating how it might impact trading volume and overall ETF performance once listed on Nasdaq. Recent shifts among ETFs to alternate exchanges suggest a competitive landscape where listing fees and regulatory environments are increasingly scrutinized, shaping the choices for investment firms.