-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 U4e31p/8VMQv8DVElcWkRWjDK1zo03VIYGAnRM58+eQHW+chlnCGBAymmvriJMmg
 MhjmYGbAjT+Cd1sAolkL7Q==

<SEC-DOCUMENT>0000897069-06-001874.txt : 20060810
<SEC-HEADER>0000897069-06-001874.hdr.sgml : 20060810
<ACCEPTANCE-DATETIME>20060810165302
ACCESSION NUMBER:		0000897069-06-001874
CONFORMED SUBMISSION TYPE:	4/A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060126
FILED AS OF DATE:		20060810
DATE AS OF CHANGE:		20060810

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BENNETT CHARLES W
		CENTRAL INDEX KEY:			0001337607

	FILING VALUES:
		FORM TYPE:		4/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-49872
		FILM NUMBER:		061021935

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		415-454-4305

	MAIL ADDRESS:	
		STREET 1:		700 IRWIN STREET
		CITY:			SAN RAFAEL
		STATE:			CA
		ZIP:			94901-3300

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HENNESSY ADVISORS INC
		CENTRAL INDEX KEY:			0001145255
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		IRS NUMBER:				680176227
		FISCAL YEAR END:			0930

	BUSINESS ADDRESS:	
		STREET 1:		7250 REDWOOD BLVD.
		STREET 2:		SUITE 200
		CITY:			NOVATO
		STATE:			CA
		ZIP:			94945
		BUSINESS PHONE:		415-899-1555

	MAIL ADDRESS:	
		STREET 1:		7250 REDWOOD BLVD.
		STREET 2:		SUITE 200
		CITY:			NOVATO
		STATE:			CA
		ZIP:			94945
</SEC-HEADER>
<DOCUMENT>
<TYPE>4/A
<SEQUENCE>1
<FILENAME>dkm964_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4/A</documentType>

    <periodOfReport>2006-01-26</periodOfReport>

    <dateOfOriginalSubmission>2006-01-27</dateOfOriginalSubmission>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001145255</issuerCik>
        <issuerName>HENNESSY ADVISORS INC</issuerName>
        <issuerTradingSymbol>HNNA.OB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001337607</rptOwnerCik>
            <rptOwnerName>BENNETT CHARLES W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>700 IRWIN STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN RAFAEL</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94901-3300</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2006-01-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1000</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8000</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By a Trust</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Represents restricted stock granted pursuant to Hennessy's 2001 Omnibus Plan and previously reported in error as part of
 shares owned indirectly.  Shares vest 25% per year beginning on the first anniversary of the date of grant.</footnote>
        <footnote id="F2">This corrects an error in the number of shares directly and indirectly held (previously reported as 9,000 shares
 directly held).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Linda Y. Kelso, as attorney-in-fact</signatureName>
        <signatureDate>2006-08-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
