Private Advisor Group LLC Increases Position in CION Investment Co. (NYSE:CION)

Private Advisor Group LLC lifted its position in CION Investment Co. (NYSE:CION) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 667,922 shares of the company’s stock after purchasing an additional 16,417 shares during the period. Private Advisor Group LLC owned about 1.25% of CION Investment worth $7,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of CION. Golden State Wealth Management LLC purchased a new stake in shares of CION Investment in the fourth quarter worth $96,000. Quantbot Technologies LP purchased a new stake in shares of CION Investment in the third quarter worth $104,000. Focused Wealth Management Inc purchased a new stake in shares of CION Investment in the third quarter worth $120,000. Legacy Investment Solutions LLC purchased a new stake in shares of CION Investment in the third quarter worth $124,000. Finally, Virtu Financial LLC purchased a new stake in shares of CION Investment in the third quarter worth $127,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

CION Investment Stock Performance

Shares of NYSE:CION opened at $12.51 on Friday. The firm has a fifty day moving average price of $11.56 and a 200 day moving average price of $11.72. CION Investment Co. has a fifty-two week low of $10.52 and a fifty-two week high of $12.69. The firm has a market cap of $666.34 million, a price-to-earnings ratio of 8.51 and a beta of 1.13.

CION Investment Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, January 27th. Investors of record on Monday, December 30th were given a dividend of $0.05 per share. The ex-dividend date was Monday, December 30th. This represents a dividend yield of 0.43%. CION Investment’s dividend payout ratio is 97.96%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company dropped their target price 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 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.