Fisher Asset Management LLC lessened its holdings in CION Investment Co. (NYSE:CION – Free Report) by 22.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,646 shares of the company’s stock after selling 3,705 shares during the period. Fisher Asset Management LLC’s holdings in CION Investment were worth $131,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new stake in shares of CION Investment in the 2nd quarter valued at $4,190,000. Millennium Management LLC grew its stake in CION Investment by 123.9% during the second quarter. Millennium Management LLC now owns 737,237 shares of the company’s stock worth $6,414,000 after buying an additional 407,899 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of CION Investment during the first quarter worth approximately $4,622,000. Renaissance Technologies LLC raised its stake in shares of CION Investment by 164.8% in the first quarter. Renaissance Technologies LLC now owns 380,200 shares of the company’s stock valued at $3,753,000 after acquiring an additional 236,600 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of CION Investment by 604.6% in the 3rd quarter. Two Sigma Advisers LP now owns 184,600 shares of the company’s stock worth $1,569,000 after acquiring an additional 158,400 shares in the last quarter. Institutional investors own 31.08% of the company’s stock.
Analyst Ratings Changes
Separately, Wells Fargo & Company increased their target price on CION Investment from $9.75 to $10.75 and gave the stock an “equal weight” rating in a report on Thursday, August 10th.
CION Investment Stock Performance
Shares of CION stock opened at $11.07 on Tuesday. The firm’s 50 day moving average is $10.40 and its 200-day moving average is $10.45. CION Investment Co. has a 1 year low of $8.99 and a 1 year high of $11.75. The firm has a market capitalization of $600.82 million, a price-to-earnings ratio of 11.18 and a beta of 1.33.
CION Investment Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, November 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.29%. CION Investment’s payout ratio is currently 137.37%.
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.
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