Catalina Capital Group LLC Raises Stake in CION Investment Co. (NYSE:CION)

Catalina Capital Group LLC grew its holdings in shares of CION Investment Co. (NYSE:CION) by 61.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,931 shares of the company’s stock after acquiring an additional 8,766 shares during the quarter. Catalina Capital Group LLC’s holdings in CION Investment were worth $278,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Hennion & Walsh Asset Management Inc. lifted its position in CION Investment by 18.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 350,825 shares of the company’s stock valued at $4,252,000 after purchasing an additional 55,438 shares during the last quarter. GPS Wealth Strategies Group LLC grew its position in shares of CION Investment by 5.3% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock worth $459,000 after buying an additional 1,901 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of CION Investment during the second quarter valued at approximately $555,000. CWM LLC raised its holdings in shares of CION Investment by 62.8% during the second quarter. CWM LLC now owns 22,645 shares of the company’s stock valued at $274,000 after acquiring an additional 8,737 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in CION Investment in the second quarter worth $257,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price target on shares of CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th.

CION Investment Stock Performance

Shares of CION traded up $0.13 on Friday, reaching $12.33. The stock had a trading volume of 122,758 shares, compared to its average volume of 243,703. The firm has a market capitalization of $660.75 million, a price-to-earnings ratio of 5.05 and a beta of 1.19. The company has a 50-day simple moving average of $12.19 and a 200-day simple moving average of $11.68. CION Investment Co. has a 12-month low of $9.65 and a 12-month high of $12.69.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.44 annualized dividend and a dividend yield of 11.68%. CION Investment’s payout ratio is 59.02%.

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.