Bensler LLC Cuts Stake in CION Investment Co. (NYSE:CION)

Bensler LLC cut its holdings in CION Investment Co. (NYSE:CION) by 12.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,662 shares of the company’s stock after selling 1,558 shares during the quarter. Bensler LLC’s holdings in CION Investment were worth $129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CION. Tidemark LLC purchased a new stake in shares of CION Investment in the 4th quarter worth approximately $26,000. YHB Investment Advisors Inc. bought a new stake in CION Investment during the 1st quarter valued at $27,000. Lazard Asset Management LLC bought a new stake in CION Investment during the 1st quarter valued at $37,000. Creekmur Asset Management LLC purchased a new position in shares of CION Investment in the 4th quarter valued at $42,000. Finally, LSV Asset Management bought a new position in shares of CION Investment in the 4th quarter worth $66,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Stock Down 0.4 %

Shares of NYSE CION traded down $0.05 during trading hours on Tuesday, hitting $12.27. 183,197 shares of the stock were exchanged, compared to its average volume of 242,920. CION Investment Co. has a 12 month low of $9.65 and a 12 month high of $12.69. The firm has a fifty day moving average price of $12.19 and a 200-day moving average price of $11.71. The company has a market cap of $657.54 million, a PE ratio of 5.03 and a beta of 1.19.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.74%. The ex-dividend date is Tuesday, September 3rd. CION Investment’s payout ratio is presently 59.02%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their target price on CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th.

CION Investment Company Profile

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.