Diversify Wealth Management LLC Reduces Stock Position in CION Investment Co. (NYSE:CION)

Diversify Wealth Management LLC lessened its stake in CION Investment Co. (NYSE:CION) by 8.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 168,958 shares of the company’s stock after selling 15,143 shares during the quarter. Diversify Wealth Management LLC’s holdings in CION Investment were worth $1,842,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CION. International Assets Investment Management LLC lifted its stake in CION Investment by 1,090.0% during 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 last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of CION Investment by 14.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after buying an additional 62,365 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of CION Investment by 5.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock valued at $15,617,000 after buying an additional 70,608 shares during the period. Strong Tower Advisory Services grew its position in shares of CION Investment by 1,469.2% during the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock valued at $2,335,000 after buying an additional 183,696 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in CION Investment during the third quarter worth about $161,000. 32.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

CION Investment Trading Down 0.1 %

Shares of NYSE:CION opened at $11.42 on Tuesday. The firm’s 50 day moving average is $11.47 and its two-hundred day moving average is $11.81. The firm has a market capitalization of $608.31 million, a P/E ratio of 7.77 and a beta of 1.13. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69.

CION Investment Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, December 30th will be paid a dividend of $0.05 per share. This represents a yield of 0.43%. The ex-dividend date of this dividend 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.