CION Investment Co. (NYSE:CION) Director Buys $11,890.00 in Stock

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone purchased 1,000 shares of the stock in a transaction on Monday, August 12th. The stock was acquired at an average cost of $11.89 per share, for a total transaction of $11,890.00. Following the acquisition, the director now directly owns 11,880 shares in the company, valued at $141,253.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

CION Investment Stock Up 0.8 %

Shares of NYSE CION opened at $12.16 on Friday. The firm’s 50-day simple moving average is $12.17 and its 200 day simple moving average is $11.64. The company has a market cap of $651.64 million, a price-to-earnings ratio of 4.98 and a beta of 1.19. CION Investment Co. has a 12-month low of $9.65 and a 12-month high of $12.69.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.44 annualized dividend and a yield of 11.84%. CION Investment’s dividend payout ratio (DPR) is 59.02%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in CION Investment by 15.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock worth $14,996,000 after buying an additional 167,567 shares in the last quarter. Bulldog Investors LLP lifted its position in CION Investment by 3.1% during the 4th quarter. Bulldog Investors LLP now owns 1,032,248 shares of the company’s stock worth $11,675,000 after buying an additional 31,009 shares in the last quarter. Acadian Asset Management LLC lifted its position in CION Investment by 32.5% during the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after purchasing an additional 170,635 shares during the period. Alpine Global Management LLC lifted its position in CION Investment by 143.6% during the 1st 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 during the period. Finally, Private Advisor Group LLC lifted its position 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 during the period. Institutional investors and hedge funds own 32.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.