CION Investment Co. (NYSE:CION) Director Robert A. Breakstone Purchases 1,000 Shares

CION Investment Co. (NYSE:CION) Director Robert A. Breakstone bought 1,000 shares of CION Investment stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average cost of $11.34 per share, with a total value of $11,340.00. Following the completion of the transaction, the director now owns 13,238 shares of the company’s stock, valued at $150,118.92. This trade represents a 8.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

CION Investment Price Performance

CION Investment stock opened at $11.48 on Wednesday. The stock has a fifty day moving average price of $11.78 and a two-hundred day moving average price of $12.03. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.69. The firm has a market capitalization of $611.72 million, a P/E ratio of 7.81 and a beta of 1.18.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.54%. CION Investment’s dividend payout ratio (DPR) is presently 97.96%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer assumed coverage on CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

Institutional Trading of CION Investment

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its stake in shares of CION Investment by 2.9% in the third quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock valued at $497,000 after buying an additional 1,190 shares in the last quarter. Endowment Wealth Management Inc. lifted its position in shares of CION Investment by 2.3% during the 2nd quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock valued at $689,000 after acquiring an additional 1,253 shares during the period. Beck Capital Management LLC lifted its position in shares of CION Investment by 6.5% during the 3rd quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock valued at $351,000 after acquiring an additional 1,797 shares during the period. GPS Wealth Strategies Group LLC lifted its position in shares of CION Investment by 5.3% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock valued at $459,000 after acquiring an additional 1,901 shares during the period. Finally, Townsquare Capital LLC lifted its position 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 valued at $374,000 after acquiring an additional 2,061 shares during the period. 32.01% of the stock is currently owned by institutional investors and hedge funds.

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.