Endowment Wealth Management Inc. Grows Stake in CION Investment Co. (NYSE:CION)

Endowment Wealth Management Inc. raised its stake in CION Investment Co. (NYSE:CION) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 58,330 shares of the company’s stock after purchasing an additional 1,489 shares during the quarter. Endowment Wealth Management Inc. owned 0.11% of CION Investment worth $694,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. International Assets Investment Management LLC grew its position in CION Investment by 1,090.0% during the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock valued at $103,660,000 after acquiring an additional 797,880 shares during the period. Private Advisor Group LLC boosted its stake in CION Investment by 674.1% during the 2nd quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock valued at $7,483,000 after purchasing an additional 537,681 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of CION Investment by 2,340.1% during the 1st quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after acquiring an additional 502,651 shares during the last quarter. Alpine Global Management LLC lifted its holdings in shares of CION Investment by 143.6% in the first quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock valued at $6,966,000 after purchasing an additional 373,297 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new position in shares of CION Investment in the second quarter worth $2,250,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Trading Down 0.3 %

Shares of NYSE CION opened at $11.37 on Thursday. The firm has a fifty day simple moving average of $11.79 and a two-hundred day simple moving average of $12.03. The firm has a market capitalization of $605.91 million, a PE ratio of 7.73 and a beta of 1.18. CION Investment Co. has a 12 month low of $10.52 and a 12 month high of $12.69.

CION Investment Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 12.31%. The ex-dividend date of this dividend is Monday, December 2nd. CION Investment’s payout ratio is currently 97.96%.

Analyst Ratings Changes

CION has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Oppenheimer assumed coverage on shares of CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price on the stock.

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.