CION Investment Co. (NYSE:CION) Sees Large Increase in Short Interest

CION Investment Co. (NYSE:CION) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 111,800 shares, a growth of 68.6% from the August 31st total of 66,300 shares. Based on an average daily volume of 166,700 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.2% of the company’s stock are short sold.

CION Investment Price Performance

Shares of CION stock traded up $0.07 on Friday, hitting $11.88. The stock had a trading volume of 135,489 shares, compared to its average volume of 236,957. The business has a 50 day moving average of $12.00 and a 200 day moving average of $11.85. CION Investment has a 12-month low of $9.65 and a 12-month high of $12.69. The stock has a market cap of $634.99 million, a price-to-earnings ratio of 4.87 and a beta of 1.19.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%. The firm had revenue of $61.36 million during the quarter.

CION Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 12.12%. CION Investment’s dividend payout ratio (DPR) is currently 59.02%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kowal Investment Group LLC raised its stake in shares of 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 purchasing an additional 964 shares during the period. Atomi Financial Group Inc. raised its position in CION Investment by 8.6% in the first quarter. Atomi Financial Group Inc. now owns 14,761 shares of the company’s stock worth $162,000 after acquiring an additional 1,166 shares during the period. Endowment Wealth Management Inc. boosted its stake in CION Investment by 2.3% in the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock valued at $689,000 after acquiring an additional 1,253 shares during the last quarter. GPS Wealth Strategies Group LLC grew its position in shares of CION Investment by 5.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock valued at $459,000 after acquiring an additional 1,901 shares during the period. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of CION Investment during the 1st quarter worth approximately $27,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

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.