CION Investment Co. (NYSE:CION) Sees Significant Increase in Short Interest

CION Investment Co. (NYSE:CION) saw a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 157,900 shares, an increase of 124.3% from the October 31st total of 70,400 shares. Approximately 0.3% of the company’s stock are sold short. Based on an average trading volume of 189,200 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CION shares. Oppenheimer started coverage on shares of CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

CION Investment Stock Down 0.3 %

CION traded down $0.03 during mid-day trading on Thursday, reaching $11.73. 364,479 shares of the company traded hands, compared to its average volume of 228,522. The stock has a market capitalization of $625.09 million, a P/E ratio of 7.98 and a beta of 1.18. The company’s fifty day moving average price is $11.76 and its 200-day moving average price is $12.03. CION Investment has a 52-week low of $10.52 and a 52-week high of $12.69.

CION Investment Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.36 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 12.28%. CION Investment’s dividend payout ratio is presently 97.96%.

Institutional Investors Weigh In On CION Investment

Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new stake in CION Investment during the 1st quarter valued at $37,000. Quantbot Technologies LP purchased a new stake in CION Investment during the 3rd quarter valued at $104,000. Focused Wealth Management Inc bought a new stake in shares of CION Investment during the 3rd quarter valued at $120,000. Legacy Investment Solutions LLC bought a new stake in shares of CION Investment during the 3rd quarter valued at $124,000. Finally, Virtu Financial LLC bought a new stake in shares of CION Investment during the 3rd quarter valued at $127,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

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.