Advisors Asset Management Inc. Increases Stake in CION Investment Co. (NYSE:CION)

Advisors Asset Management Inc. grew its stake in shares of CION Investment Co. (NYSE:CION) by 130.6% during the third quarter, HoldingsChannel.com reports. The fund owned 49,673 shares of the company’s stock after buying an additional 28,129 shares during the quarter. Advisors Asset Management Inc.’s holdings in CION Investment were worth $591,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its holdings in shares of CION Investment by 7.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 196,724 shares of the company’s stock valued at $2,341,000 after acquiring an additional 13,182 shares during the last quarter. Endowment Wealth Management Inc. boosted its holdings in shares of CION Investment by 2.6% during the 3rd quarter. Endowment Wealth Management Inc. now owns 58,330 shares of the company’s stock valued at $694,000 after acquiring an additional 1,489 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of CION Investment by 17.3% during the 3rd quarter. Harbour Investments Inc. now owns 18,149 shares of the company’s stock valued at $216,000 after acquiring an additional 2,679 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of CION Investment by 81.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 45,687 shares of the company’s stock valued at $544,000 after acquiring an additional 20,498 shares during the last quarter. Finally, Sigma Planning Corp boosted its holdings in shares of CION Investment by 3.6% during the 3rd quarter. Sigma Planning Corp now owns 306,660 shares of the company’s stock valued at $3,649,000 after acquiring an additional 10,711 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Down 0.3 %

Shares of NYSE:CION opened at $11.73 on Thursday. The firm’s 50 day moving average price is $11.76 and its 200-day moving average price is $12.03. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The stock has a market capitalization of $625.09 million, a PE ratio of 7.98 and a beta of 1.18.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 12.28%. The ex-dividend date of this dividend is Monday, December 2nd. CION Investment’s dividend payout ratio (DPR) is presently 97.96%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CION shares. Wells Fargo & Company dropped their price target on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of CION Investment in a research note on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective on the stock.

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.