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

CION Investment Co. (NYSE:CION) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 78,200 shares, an increase of 26.9% from the May 31st total of 61,600 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 243,800 shares, the short-interest ratio is presently 0.3 days.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, insider Gregg A. Bresner acquired 2,000 shares of the business’s stock in a transaction on Friday, May 17th. The stock was acquired at an average cost of $12.51 per share, with a total value of $25,020.00. Following the acquisition, the insider now directly owns 52,099 shares in the company, valued at approximately $651,758.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have bought 3,660 shares of company stock worth $44,983. Company insiders own 0.05% of the company’s stock.

Institutional Trading of CION Investment

Institutional investors have recently bought and sold shares of the stock. Tidemark LLC bought a new stake in CION Investment in the fourth quarter worth $26,000. YHB Investment Advisors Inc. bought a new stake in shares of CION Investment during the first quarter worth $27,000. Lazard Asset Management LLC bought a new stake in shares of CION Investment during the first quarter worth $37,000. Creekmur Asset Management LLC bought a new stake in shares of CION Investment during the fourth quarter worth $42,000. Finally, LSV Asset Management bought a new stake in shares of CION Investment during the fourth quarter worth $66,000. 32.01% of the stock is currently owned by institutional investors.

CION Investment Stock Performance

CION stock opened at $12.15 on Tuesday. The firm has a fifty day moving average price of $12.07 and a 200 day moving average price of $11.43. CION Investment has a fifty-two week low of $9.65 and a fifty-two week high of $12.69. The firm has a market cap of $651.12 million, a PE ratio of 4.98 and a beta of 1.19.

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

CION Investment Dividend Announcement

The business also recently declared a Variable dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.05 dividend. The ex-dividend date is Friday, June 28th. This represents a yield of 12%. CION Investment’s dividend payout ratio is presently 59.02%.

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.