CION Investment Co. (NYSE:CION) Short Interest Update

CION Investment Co. (NYSE:CION) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 78,200 shares, a growth of 26.9% from the May 31st total of 61,600 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 243,800 shares, the short-interest ratio is currently 0.3 days.

Insider Transactions at CION Investment

In other news, insider Gregg A. Bresner purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average price of $12.51 per share, for a total transaction of $25,020.00. Following the purchase, the insider now directly owns 52,099 shares of the company’s stock, valued at approximately $651,758.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have acquired 3,660 shares of company stock valued at $44,983. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of CION Investment

Hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. raised its holdings in CION Investment by 42.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company’s stock worth $3,249,000 after purchasing an additional 87,382 shares during the last quarter. Financial Gravity Asset Management Inc. raised its holdings in CION Investment by 1,800.0% during the third quarter. Financial Gravity Asset Management Inc. now owns 472,055 shares of the company’s stock worth $4,990,000 after purchasing an additional 447,210 shares during the last quarter. Alpine Global Management LLC raised its holdings in 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 last quarter. HighPoint Advisor Group LLC acquired a new position in CION Investment during the fourth quarter worth $1,680,000. Finally, Great Valley Advisor Group Inc. raised its holdings in CION Investment by 51.4% during the fourth quarter. Great Valley Advisor Group Inc. now owns 20,633 shares of the company’s stock worth $233,000 after purchasing an additional 7,003 shares during the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 Trading Up 0.2 %

Shares of CION stock opened at $12.15 on Tuesday. The business’s 50 day moving average is $12.07 and its two-hundred day moving average is $11.43. CION Investment has a twelve month low of $9.65 and a twelve month high of $12.69. The company has a market capitalization of $651.12 million, a P/E ratio of 4.98 and a beta of 1.19.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.60 EPS for the quarter. The business had revenue of $73.55 million during the quarter. CION Investment had a return on equity of 12.53% and a net margin of 51.16%.

CION Investment Announces Dividend

The firm also recently declared a Variable dividend, which will be paid on Friday, July 12th. Stockholders of record on Friday, June 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a dividend yield of 12%. CION Investment’s dividend payout ratio is currently 59.02%.

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.