Beck Capital Management LLC Buys 1,797 Shares of CION Investment Co. (NYSE:CION)

Beck Capital Management LLC lifted its stake in shares of CION Investment Co. (NYSE:CION) by 6.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 29,511 shares of the company’s stock after buying an additional 1,797 shares during the quarter. Beck Capital Management LLC owned about 0.06% of CION Investment worth $351,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in CION Investment by 1,090.0% during the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock worth $103,660,000 after purchasing an additional 797,880 shares during the last quarter. Private Advisor Group LLC raised its position in shares of CION Investment by 674.1% in the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock valued at $7,483,000 after buying an additional 537,681 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of CION Investment by 2,340.1% in the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after buying an additional 502,651 shares during the period. Diversify Wealth Management LLC acquired a new stake in CION Investment during the second quarter worth approximately $2,250,000. Finally, Strong Tower Advisory Services increased its stake in CION Investment by 1,469.2% during the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after acquiring an additional 183,696 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

Shares of CION opened at $11.75 on Monday. The firm has a 50 day simple moving average of $11.75 and a two-hundred day simple moving average of $12.02. The company has a market cap of $626.11 million, a P/E ratio of 7.99 and a beta of 1.18. CION Investment Co. has a one year low of $10.52 and a one year high of $12.69.

CION Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.44 annualized dividend and a dividend yield of 12.26%. CION Investment’s dividend payout ratio is currently 97.96%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer initiated coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price for the company. Wells Fargo & Company cut their price objective on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th.

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.