Short Interest in CION Investment Co. (NYSE:CION) Declines By 6.9%

CION Investment Co. (NYSE:CION – Get Rating) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 126,400 shares, a decline of 6.9% from the February 13th total of 135,800 shares. Based on an average daily trading volume, of 227,100 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of CION Investment

Hedge funds have recently made changes to their positions in the company. Advisory Alpha LLC acquired a new position in CION Investment in the 3rd quarter worth $87,000. United Capital Financial Advisers LLC acquired a new stake in shares of CION Investment during the third quarter worth approximately $111,000. Virtus ETF Advisers LLC bought a new stake in shares of CION Investment in the third quarter worth $107,000. Bulldog Investors LLP raised its holdings in CION Investment by 45.6% in the third quarter. Bulldog Investors LLP now owns 974,829 shares of the company’s stock valued at $8,286,000 after acquiring an additional 305,405 shares in the last quarter. Finally, ACG Wealth raised its stake in shares of CION Investment by 34.9% in the 3rd quarter. ACG Wealth now owns 103,057 shares of the company’s stock valued at $876,000 after purchasing an additional 26,649 shares in the last quarter. Hedge funds and other institutional investors own 27.22% of the company’s stock.

CION Investment Stock Down 4.4 %

Shares of CION Investment stock traded down $0.44 during trading hours on Friday, hitting $9.66. The company’s stock had a trading volume of 54,870 shares, compared to its average volume of 163,903. The business has a fifty day moving average of $10.69 and a 200 day moving average of $10.04. CION Investment has a 1-year low of $7.83 and a 1-year high of $15.09. The company has a market capitalization of $535.45 million, a PE ratio of 9.93 and a beta of 1.46.

CION Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 24th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, March 23rd. This represents a $1.36 annualized dividend and a dividend yield of 14.08%. CION Investment’s payout ratio is currently 124.00%.

Analyst Ratings Changes

Separately, Wells Fargo & Company lowered their price target on CION Investment from $11.00 to $10.50 and set an “overweight” rating for the company in a report on Friday.

About CION Investment

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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.