CION Investment Co. (NYSE:CION) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of CION Investment Co. (NYSE:CION) by 41.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 322,600 shares of the company’s stock after selling 229,500 shares during the quarter. Renaissance Technologies LLC’s holdings in CION Investment were worth $3,910,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Kowal Investment Group LLC boosted its holdings 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 last quarter. Atomi Financial Group Inc. grew its stake in shares of 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 in the last quarter. Endowment Wealth Management Inc. increased its position in shares of CION Investment by 2.3% during the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after acquiring an additional 1,253 shares during the period. GPS Wealth Strategies Group LLC raised its stake in shares of CION Investment by 5.3% in the second 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 in the last quarter. Finally, YHB Investment Advisors Inc. purchased a new position in CION Investment in the first quarter valued at $27,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

Shares of NYSE CION opened at $11.88 on Friday. The stock’s 50-day moving average is $12.00 and its two-hundred day moving average is $11.85. The company has a market cap of $634.99 million, a price-to-earnings ratio of 4.87 and a beta of 1.19. CION Investment Co. has a 1-year low of $9.65 and a 1-year high of $12.69.

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

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 12.12%. The ex-dividend date was Tuesday, September 3rd. CION Investment’s dividend payout ratio is currently 59.02%.

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.