CION Investment Co. (NYSE:CION) Sees Significant Decrease in Short Interest

CION Investment Co. (NYSE:CION) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 240,000 shares, a drop of 21.9% from the January 15th total of 307,400 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average trading volume of 266,600 shares, the days-to-cover ratio is presently 0.9 days.

CION Investment Stock Performance

CION stock traded up $0.19 during mid-day trading on Monday, hitting $12.17. The company had a trading volume of 397,455 shares, compared to its average volume of 216,658. The firm has a market cap of $648.65 million, a PE ratio of 8.28 and a beta of 1.13. CION Investment has a 12 month low of $10.52 and a 12 month high of $12.69. The stock’s fifty day moving average price is $11.50 and its two-hundred day moving average price is $11.71.

CION Investment Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company decreased their target price on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its position in shares of CION Investment by 14.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock valued at $5,750,000 after acquiring an additional 62,365 shares during the period. International Assets Investment Management LLC lifted its stake 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 worth $103,660,000 after purchasing an additional 797,880 shares in the last quarter. Van ECK Associates Corp boosted its holdings in 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 purchasing an additional 70,608 shares during the period. Jane Street Group LLC purchased a new position in shares of CION Investment during the 3rd quarter valued at $161,000. Finally, Arete Wealth Advisors LLC increased its holdings in shares of CION Investment by 67.6% in the third quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock worth $337,000 after purchasing an additional 11,408 shares during the period. 32.01% of the stock is owned by institutional investors.

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.