CION Investment Co. (NYSE:CION) Short Interest Update

CION Investment Co. (NYSE:CION) was the recipient of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 240,000 shares, a decline of 21.9% from the January 15th total of 307,400 shares. Approximately 0.5% of the company’s shares are sold short. Based on an average daily trading volume, of 266,600 shares, the short-interest ratio is presently 0.9 days.

CION Investment Price Performance

CION stock opened at $12.17 on Friday. The firm has a 50-day moving average of $11.49 and a 200 day moving average of $11.71. The company has a market cap of $648.65 million, a P/E ratio of 8.28 and a beta of 1.13. CION Investment has a 1 year low of $10.52 and a 1 year high of $12.69.

CION Investment Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company dropped their price target 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.

Institutional Investors Weigh In On CION Investment

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of CION Investment by 1.7% during the 4th quarter. Van ECK Associates Corp now owns 1,329,799 shares of the company’s stock valued at $15,160,000 after buying an additional 21,825 shares in the last quarter. Invesco Ltd. bought a new stake in CION Investment during the fourth quarter worth about $11,882,000. International Assets Investment Management LLC grew its holdings in CION Investment by 1,090.0% in the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock worth $103,660,000 after purchasing an additional 797,880 shares during the period. Wells Fargo & Company MN increased its stake in shares of CION Investment by 6,958.9% during the fourth quarter. Wells Fargo & Company MN now owns 722,201 shares of the company’s stock valued at $8,233,000 after purchasing an additional 711,970 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of CION Investment by 2.5% during the fourth quarter. Private Advisor Group LLC now owns 667,922 shares of the company’s stock valued at $7,614,000 after purchasing an additional 16,417 shares during the last quarter. 32.01% of the stock is owned by hedge funds and other institutional investors.

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.