Atria Wealth Solutions Inc. Decreases Position in CION Investment Co. (NYSE:CION)

Atria Wealth Solutions Inc. decreased its position in shares of CION Investment Co. (NYSE:CION) by 14.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 70,008 shares of the company’s stock after selling 11,739 shares during the period. Atria Wealth Solutions Inc.’s holdings in CION Investment were worth $848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CION. Tidemark LLC purchased a new position in CION Investment in the 4th quarter worth about $26,000. YHB Investment Advisors Inc. purchased a new position in shares of CION Investment during the first quarter valued at approximately $27,000. Lazard Asset Management LLC bought a new position in CION Investment during the first quarter valued at approximately $37,000. Creekmur Asset Management LLC purchased a new stake in CION Investment in the fourth quarter worth approximately $42,000. Finally, LSV Asset Management bought a new stake in CION Investment in the 4th quarter worth approximately $66,000. Institutional investors own 32.01% of the company’s stock.

CION Investment Stock Up 1.1 %

NYSE CION opened at $12.33 on Friday. The firm has a market capitalization of $660.75 million, a P/E ratio of 5.05 and a beta of 1.19. The company has a 50-day moving average price of $12.19 and a 200-day moving average price of $11.69. CION Investment Co. has a 52 week low of $9.65 and a 52 week high of $12.69.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.36 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.44 annualized dividend and a yield of 11.68%. CION Investment’s payout ratio is presently 59.02%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price target on CION Investment from $11.50 to $12.00 and gave the stock 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.