Strong Tower Advisory Services Has $2.35 Million Stake in CION Investment Co. (NYSE:CION)

Strong Tower Advisory Services increased its holdings in shares of CION Investment Co. (NYSE:CION) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,941 shares of the company’s stock after acquiring an additional 9,742 shares during the quarter. Strong Tower Advisory Services owned about 0.39% of CION Investment worth $2,348,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on CION shares. Wells Fargo & Company lowered their price target 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. Oppenheimer initiated coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target on the stock.

CION Investment Stock Performance

Shares of CION stock opened at $11.42 on Monday. CION Investment Co. has a fifty-two week low of $10.52 and a fifty-two week high of $12.69. The stock has a 50 day simple moving average of $11.47 and a two-hundred day simple moving average of $11.81. The company has a market cap of $608.31 million, a P/E ratio of 7.77 and a beta of 1.13.

CION Investment Announces Dividend

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

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.