Hennion & Walsh Asset Management Inc. boosted its position in CION Investment Co. (NYSE:CION - Free Report) by 42.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 295,387 shares of the company's stock after acquiring an additional 87,382 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.55% of CION Investment worth $3,249,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its stake in shares of CION Investment by 1,056.3% during the fourth quarter. International Assets Investment Management LLC now owns 879,533 shares of the company's stock valued at $99,480,000 after purchasing an additional 803,469 shares in the last quarter. WealthPlan Investment Management LLC grew its holdings in CION Investment by 883,149.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 468,122 shares of the company's stock worth $4,948,000 after acquiring an additional 468,069 shares during the last quarter. Financial Gravity Asset Management Inc. increased its position in CION Investment by 1,800.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 472,055 shares of the company's stock valued at $4,990,000 after acquiring an additional 447,210 shares during the period. HighPoint Advisor Group LLC acquired a new position in CION Investment in the 4th quarter valued at approximately $1,680,000. Finally, Alpine Global Management LLC lifted its holdings in shares of CION Investment by 181.4% during the third quarter. Alpine Global Management LLC now owns 180,849 shares of the company's stock worth $1,912,000 after purchasing an additional 116,579 shares during the period. 32.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Wells Fargo & Company raised their price objective on CION Investment from $11.50 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 15th.
Check Out Our Latest Stock Report on CION Investment
Insider Buying and Selling
In other news, insider Gregg A. Bresner acquired 2,000 shares of the firm's stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $12.51 per share, for a total transaction of $25,020.00. Following the purchase, the insider now owns 52,099 shares in the company, valued at approximately $651,758.49. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders purchased 4,110 shares of company stock worth $49,955. 0.05% of the stock is owned by corporate insiders.
CION Investment Stock Up 0.1 %
CION traded up $0.01 during trading on Friday, hitting $12.12. The company's stock had a trading volume of 174,573 shares, compared to its average volume of 206,411. The firm has a market capitalization of $649.51 million, a P/E ratio of 4.97 and a beta of 1.21. CION Investment Co. has a twelve month low of $9.65 and a twelve month high of $12.69. The stock's fifty day moving average price is $12.07 and its 200-day moving average price is $11.43.
CION Investment (NYSE:CION - Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported $0.60 EPS for the quarter. CION Investment had a return on equity of 12.53% and a net margin of 51.16%. The company had revenue of $73.55 million during the quarter.
CION Investment Dividend Announcement
The business also recently announced a Variable dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, June 28th. This represents a dividend yield of 12%. CION Investment's payout ratio is 59.02%.
About CION Investment
(Free Report)
CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies.
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