CION Investment (NYSE:CION) Shares Down 0.7% – Here’s What Happened

Shares of CION Investment Corporation (NYSE:CION) fell 0.7% on Monday . The company traded as low as $8.58 and last traded at $8.77. 479,009 shares traded hands during trading, an increase of 23% from the average session volume of 388,473 shares. The stock had previously closed at $8.83.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CION shares. Wall Street Zen raised CION Investment from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 17th. Zacks Research lowered shares of CION Investment from a “strong-buy” rating to a “hold” rating in a report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of CION Investment in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, CION Investment presently has a consensus rating of “Reduce” and an average price target of $8.50.

CION Investment Trading Down 0.7%

The firm has a market cap of $456.83 million, a price-to-earnings ratio of 17.20 and a beta of 1.07. The business’s 50-day simple moving average is $9.56 and its two-hundred day simple moving average is $9.77.

CION Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.10 per share. This represents a c) dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Friday, March 13th. CION Investment’s dividend payout ratio (DPR) is currently 235.29%.

Institutional Trading of CION Investment

A number of large investors have recently bought and sold shares of CION. North Ground Capital grew its stake in CION Investment by 100.6% during the third quarter. North Ground Capital now owns 1,002,778 shares of the company’s stock worth $9,506,000 after purchasing an additional 502,778 shares during the period. Financial Gravity Companies Inc. acquired a new position in CION Investment in the second quarter valued at approximately $934,000. Advisors Asset Management Inc. boosted its holdings in shares of CION Investment by 63.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 219,520 shares of the company’s stock worth $2,101,000 after buying an additional 84,855 shares in the last quarter. Y Intercept Hong Kong Ltd grew its position in shares of CION Investment by 381.2% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 63,351 shares of the company’s stock worth $606,000 after buying an additional 50,186 shares during the period. Finally, Whipplewood Advisors LLC increased its stake in shares of CION Investment by 208,880.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 52,245 shares of the company’s stock valued at $500,000 after acquiring an additional 52,220 shares in the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

About CION Investment

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.