Arete Wealth Advisors LLC Raises Stock Holdings in CION Investment Co. (NYSE:CION)

Arete Wealth Advisors LLC lifted its holdings in CION Investment Co. (NYSE:CION) by 67.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,275 shares of the company’s stock after purchasing an additional 11,408 shares during the quarter. Arete Wealth Advisors LLC’s holdings in CION Investment were worth $337,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in CION Investment during the third quarter valued at approximately $104,000. Focused Wealth Management Inc bought a new position in shares of CION Investment during the 3rd quarter valued at approximately $120,000. First Heartland Consultants Inc. purchased a new stake in CION Investment during the 2nd quarter valued at $145,000. Fullcircle Wealth LLC bought a new stake in CION Investment in the second quarter worth $156,000. Finally, Marshall Wace LLP purchased a new position in CION Investment during the second quarter worth $164,000. Institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CION. Wells Fargo & Company lowered 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 report on Tuesday, October 29th. Oppenheimer assumed coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective on the stock.

CION Investment Stock Up 2.3 %

Shares of CION Investment stock opened at $11.87 on Friday. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69. The company has a market capitalization of $632.55 million, a PE ratio of 8.07 and a beta of 1.14. The stock’s fifty day moving average is $11.69 and its two-hundred day moving average is $11.96.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.13%. The ex-dividend date is Monday, December 2nd. CION Investment’s payout ratio is presently 97.96%.

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.