Hennion & Walsh Asset Management Inc. Boosts Stock Position in CION Investment Co. (NYSE:CION)

Hennion & Walsh Asset Management Inc. grew its stake in CION Investment Co. (NYSE:CION) by 14.1% in the fourth quarter, Holdings Channel reports. The fund owned 504,411 shares of the company’s stock after purchasing an additional 62,365 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in CION Investment were worth $5,750,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CION. Concurrent Investment Advisors LLC raised its stake in shares of CION Investment by 2.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock valued at $497,000 after acquiring an additional 1,190 shares during the period. Endowment Wealth Management Inc. increased its position in shares of CION Investment by 2.6% during the third quarter. Endowment Wealth Management Inc. now owns 58,330 shares of the company’s stock worth $694,000 after acquiring an additional 1,489 shares during the period. Beck Capital Management LLC increased its holdings in CION Investment by 6.5% during the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock worth $351,000 after purchasing an additional 1,797 shares during the period. Townsquare Capital LLC lifted its stake in CION Investment by 7.0% in the third quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock worth $374,000 after acquiring an additional 2,061 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its position in shares of CION Investment by 0.9% during the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 253,353 shares of the company’s stock worth $3,015,000 after purchasing an additional 2,267 shares during the last quarter. 32.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CION has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price on the stock.

CION Investment Price Performance

NYSE CION opened at $11.32 on Thursday. The firm’s fifty day moving average price is $11.49 and its 200 day moving average price is $11.82. CION Investment Co. has a 12 month low of $10.52 and a 12 month high of $12.69. The company has a market capitalization of $603.24 million, a price-to-earnings ratio of 7.70 and a beta of 1.13.

CION Investment Announces Dividend

The company also recently announced an annual dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, December 30th will be given a dividend of $0.05 per share. This represents a dividend yield of 0.43%. The ex-dividend date is Monday, December 30th. CION Investment’s dividend payout ratio (DPR) is currently 97.96%.

About CION Investment

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.