Western Wealth Management LLC Has $247,000 Stock Position in CION Investment Co. (NYSE:CION)

Western Wealth Management LLC cut its position in CION Investment Co. (NYSE:CION) by 5.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,382 shares of the company’s stock after selling 1,123 shares during the period. Western Wealth Management LLC’s holdings in CION Investment were worth $247,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tidemark LLC bought a new stake in CION Investment during the 4th quarter valued at $26,000. YHB Investment Advisors Inc. bought a new position in CION Investment in the 1st quarter valued at about $27,000. Lazard Asset Management LLC acquired a new position in CION Investment during the 1st quarter valued at about $37,000. Creekmur Asset Management LLC purchased a new stake in shares of CION Investment in the fourth quarter worth approximately $42,000. Finally, LSV Asset Management purchased a new stake in CION Investment in the 4th quarter valued at $66,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Up 0.1 %

CION traded up $0.01 during trading hours on Monday, hitting $12.25. The stock had a trading volume of 35,328 shares, compared to its average volume of 245,346. The stock has a market cap of $656.47 million, a PE ratio of 5.02 and a beta of 1.19. CION Investment Co. has a 1 year low of $9.65 and a 1 year high of $12.69. The company’s fifty day simple moving average is $12.18 and its 200 day simple moving average is $11.65.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.76%. The ex-dividend date is Tuesday, September 3rd. CION Investment’s payout ratio is currently 59.02%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lifted their target price 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.