Apollon Wealth Management LLC Has $544,000 Position in CION Investment Co. (NYSE:CION)

Apollon Wealth Management LLC grew its position in CION Investment Co. (NYSE:CION) by 81.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,687 shares of the company’s stock after purchasing an additional 20,498 shares during the period. Apollon Wealth Management LLC owned about 0.09% of CION Investment worth $544,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new stake in CION Investment during the 1st quarter valued at $37,000. Focused Wealth Management Inc acquired a new position in CION Investment during the 3rd quarter worth about $120,000. First Heartland Consultants Inc. bought a new stake in shares of CION Investment during the second quarter valued at approximately $145,000. Fullcircle Wealth LLC acquired a new stake in shares of CION Investment in the 2nd quarter valued at $156,000. Finally, Marshall Wace LLP acquired a new stake in shares of CION Investment in the 2nd quarter valued at $164,000. Institutional investors own 32.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CION Investment Stock Down 0.8 %

NYSE:CION opened at $11.34 on Friday. CION Investment Co. has a 12-month low of $10.52 and a 12-month high of $12.69. The stock’s fifty day simple moving average is $11.78 and its 200-day simple moving average is $12.03. The firm has a market capitalization of $604.26 million, a P/E ratio of 7.71 and a beta of 1.18.

CION Investment Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.35 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.35%. CION Investment’s dividend payout ratio is 97.96%.

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.