Hennion & Walsh Asset Management Inc. Grows Stake in CION Investment Co. (NYSE:CION)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of CION Investment Co. (NYSE:CION) by 14.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 504,411 shares of the company’s stock after buying an additional 62,365 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.95% of CION Investment worth $5,750,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC raised its position in CION Investment by 2.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock valued at $497,000 after purchasing an additional 1,190 shares in the last quarter. Endowment Wealth Management Inc. raised its holdings in shares of CION Investment by 2.6% in the 3rd quarter. Endowment Wealth Management Inc. now owns 58,330 shares of the company’s stock valued at $694,000 after purchasing an additional 1,489 shares in the last quarter. Beck Capital Management LLC lifted its holdings in CION Investment by 6.5% during the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock worth $351,000 after buying an additional 1,797 shares during the period. Townsquare Capital LLC lifted its stake in shares of CION Investment by 7.0% during the 3rd quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock worth $374,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its position in shares of CION Investment by 0.9% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 253,353 shares of the company’s stock valued at $3,015,000 after buying an additional 2,267 shares during the last quarter. 32.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CION has been the topic of a number of recent analyst reports. Oppenheimer initiated coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target on the stock. Wells Fargo & Company decreased their target price on 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 Price Performance

NYSE:CION opened at $11.32 on Thursday. The company has a 50 day moving average price of $11.49 and a 200-day moving average price of $11.82. CION Investment Co. has a 1-year low of $10.52 and a 1-year high of $12.69. The firm has a market cap of $603.24 million, a price-to-earnings ratio of 7.70 and a beta of 1.13.

CION Investment Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, December 30th will be paid a dividend of $0.05 per share. This represents a dividend yield of 0.43%. The ex-dividend date is Monday, December 30th. CION Investment’s payout ratio is currently 97.96%.

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.