CION Investment Co. (NYSE:CION) Sees Significant Decline in Short Interest

CION Investment Co. (NYSE:CION) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totalling 32,400 shares, a drop of 56.7% from the June 30th total of 74,900 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 202,600 shares, the short-interest ratio is presently 0.2 days.

CION Investment Stock Performance

NYSE CION traded up $0.06 during trading on Friday, reaching $12.30. The company’s stock had a trading volume of 96,867 shares, compared to its average volume of 129,736. The firm has a market cap of $659.16 million, a price-to-earnings ratio of 5.04 and a beta of 1.19. CION Investment has a twelve month low of $9.65 and a twelve month high of $12.69. The business’s fifty day moving average price is $12.29 and its 200-day moving average price is $11.57.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.60 EPS for the quarter. The company had revenue of $73.55 million for the quarter. CION Investment had a net margin of 51.16% and a return on equity of 12.53%.

CION Investment Dividend Announcement

The company also recently declared a Variable dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, June 28th. This represents a dividend yield of 12%. CION Investment’s dividend payout ratio (DPR) is 59.02%.

Insider Buying and Selling at CION Investment

In other CION Investment news, insider Gregg A. Bresner purchased 2,000 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was bought at an average price of $12.51 per share, with a total value of $25,020.00. Following the transaction, the insider now directly owns 52,099 shares of the company’s stock, valued at approximately $651,758.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 3,210 shares of company stock valued at $39,983 in the last 90 days. Company insiders own 0.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. boosted its holdings in CION Investment by 42.0% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company’s stock worth $3,249,000 after buying an additional 87,382 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of CION Investment by 7.6% in the first quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock valued at $11,768,000 after purchasing an additional 75,859 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of CION Investment in the fourth quarter valued at about $1,680,000. Great Valley Advisor Group Inc. lifted its holdings in shares of CION Investment by 51.4% in the fourth quarter. Great Valley Advisor Group Inc. now owns 20,633 shares of the company’s stock valued at $233,000 after purchasing an additional 7,003 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of CION Investment by 92.7% in the fourth quarter. Quadrature Capital Ltd now owns 117,710 shares of the company’s stock valued at $1,332,000 after buying an additional 56,624 shares during the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their price objective on shares of CION Investment from $11.50 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 15th.

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.