Hennessy Advisors, Inc. announced on March 14, 2025, that it has signed a definitive agreement with STF Management, LP to acquire the assets of two Exchange-Traded Funds (ETFs). The acquisition includes the STF Tactical Growth ETF (TUG) and the STF Tactical Growth & Income ETF (TUGN), which collectively hold approximately $220 million in assets. This transaction is expected to close in the third quarter of 2025.
This strategic move aims to significantly expand Hennessy Advisors' ETF offerings and strengthen its position in the ETF market. As part of the acquisition, Jonathan Molchan, an experienced Portfolio Manager with 20 years of industry experience, will join the Hennessy team and continue to manage the portfolios.
The transaction is structured with the intention of qualifying as a tax-free reorganization for the acquired ETF shareholders. The completion of the acquisition is subject to customary closing conditions, including approvals from the SEC, the Hennessy Funds Trust Board of Trustees, the Listed Funds Trust Board of Trustees, and the STFM ETFs' shareholders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.