Brookstone Capital Management Sells 2,362 Shares of CION Investment Co. (NYSE:CION)

Brookstone Capital Management decreased its holdings in shares of CION Investment Co. (NYSE:CION) by 12.5% during the 4th quarter, Holdings Channel reports. The firm owned 16,590 shares of the company’s stock after selling 2,362 shares during the quarter. Brookstone Capital Management’s holdings in CION Investment were worth $189,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CION. International Assets Investment Management LLC increased its position in CION Investment by 1,090.0% in the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock valued at $103,660,000 after buying an additional 797,880 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of CION Investment by 5.7% during the third quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock valued at $15,617,000 after acquiring an additional 70,608 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of CION Investment by 26.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 442,046 shares of the company’s stock worth $5,260,000 after purchasing an additional 91,221 shares during the period. Strong Tower Advisory Services lifted its holdings in shares of CION Investment by 1,469.2% in the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after purchasing an additional 183,696 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its position in CION Investment by 67.6% in the 3rd quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock valued at $337,000 after purchasing an additional 11,408 shares during the period. 32.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CION has been the subject of several recent research reports. Wells Fargo & Company decreased their target price on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research report on Tuesday, October 29th. Oppenheimer started coverage on CION Investment in a report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

CION Investment Stock Performance

Shares of CION stock opened at $11.42 on Monday. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.69. The company 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 capitalization of $608.31 million, a price-to-earnings ratio of 7.77 and a beta of 1.13.

CION Investment Dividend Announcement

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

CION Investment 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.