Millennium Management LLC Has $2.69 Million Position in CION Investment Co. (NYSE:CION)

Millennium Management LLC reduced its position in shares of CION Investment Co. (NYSE:CION) by 57.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,882 shares of the company’s stock after selling 296,423 shares during the period. Millennium Management LLC owned about 0.41% of CION Investment worth $2,689,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Quadrature Capital Ltd lifted its position in shares of CION Investment by 92.7% in the fourth quarter. Quadrature Capital Ltd now owns 117,710 shares of the company’s stock valued at $1,332,000 after buying an additional 56,624 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in CION Investment by 33.9% during the 1st quarter. International Assets Investment Management LLC now owns 104,117 shares of the company’s stock worth $1,155,000 after buying an additional 26,351 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in CION Investment by 42.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company’s stock worth $3,249,000 after buying an additional 87,382 shares during the period. Kowal Investment Group LLC lifted its holdings in CION Investment by 3.7% during the 1st quarter. Kowal Investment Group LLC now owns 27,290 shares of the company’s stock worth $300,000 after buying an additional 964 shares during the period. Finally, Commonwealth Equity Services LLC lifted its holdings in CION Investment by 20.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 326,469 shares of the company’s stock worth $3,591,000 after buying an additional 54,550 shares during the period. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Price Performance

Shares of CION opened at $11.93 on Wednesday. CION Investment Co. has a one year low of $9.65 and a one year high of $12.69. The company has a 50-day simple moving average of $11.93 and a two-hundred day simple moving average of $11.94. The firm has a market capitalization of $639.32 million, a PE ratio of 4.89 and a beta of 1.18.

CION Investment (NYSE:CION) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. The business had revenue of $61.36 million during the quarter. Analysts expect that CION Investment Co. will post 1.77 EPS for the current fiscal year.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 12.07%. The ex-dividend date was Tuesday, September 3rd. CION Investment’s dividend payout ratio (DPR) is presently 59.02%.

Analyst Upgrades and Downgrades

Separately, Oppenheimer began coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

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.