Orion Portfolio Solutions LLC Grows Stock Position in CION Investment Co. (NYSE:CION)

Orion Portfolio Solutions LLC lifted its stake in CION Investment Co. (NYSE:CION) by 54.1% during the third quarter, Holdings Channel reports. The institutional investor owned 27,109 shares of the company’s stock after acquiring an additional 9,518 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in CION Investment were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in CION Investment by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after purchasing an additional 170,635 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of CION Investment in the 2nd quarter valued at $2,250,000. International Assets Investment Management LLC boosted its holdings 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 buying an additional 797,880 shares in the last quarter. Van ECK Associates Corp grew its position in CION Investment by 15.7% during the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock valued at $14,996,000 after buying an additional 167,567 shares during the period. Finally, Strong Tower Advisory Services increased its holdings in CION Investment by 1,469.2% in the third 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 in the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Stock Performance

NYSE:CION opened at $11.48 on Thursday. The stock has a market capitalization of $611.72 million, a PE ratio of 7.81 and a beta of 1.14. CION Investment Co. has a fifty-two week low of $10.52 and a fifty-two week high of $12.69. The company has a fifty day moving average of $11.69 and a two-hundred day moving average of $11.94.

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.36 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.44 annualized dividend and a dividend yield of 12.54%. CION Investment’s dividend payout ratio (DPR) is presently 97.96%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CION shares. Oppenheimer started coverage on shares of CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price on the stock. Wells Fargo & Company lowered their price target 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 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.