Townsquare Capital LLC Raises Stock Position in CION Investment Co. (NYSE:CION)

Townsquare Capital LLC boosted its position in shares of CION Investment Co. (NYSE:CION) by 7.0% in the third quarter, HoldingsChannel reports. The fund owned 31,438 shares of the company’s stock after purchasing an additional 2,061 shares during the quarter. Townsquare Capital LLC’s holdings in CION Investment were worth $374,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CION. Cetera Advisors LLC grew its stake in shares of CION Investment by 19.6% during the first quarter. Cetera Advisors LLC now owns 139,063 shares of the company’s stock worth $1,530,000 after acquiring an additional 22,758 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of CION Investment in the second quarter worth $257,000. CWM LLC lifted its stake in shares of CION Investment by 62.8% during the second quarter. CWM LLC now owns 22,645 shares of the company’s stock worth $274,000 after buying an additional 8,737 shares during the period. GPS Wealth Strategies Group LLC grew its holdings in shares of CION Investment by 5.3% during the second quarter. GPS Wealth Strategies Group LLC now owns 37,893 shares of the company’s stock valued at $459,000 after buying an additional 1,901 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of CION Investment by 18.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 350,825 shares of the company’s stock valued at $4,252,000 after acquiring an additional 55,438 shares during the period. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Price Performance

Shares of CION Investment stock opened at $11.44 on Friday. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.69. The stock has a market cap of $609.64 million, a PE ratio of 7.78 and a beta of 1.14. The firm has a fifty day moving average price of $11.71 and a 200 day moving average price of $11.99.

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.59%. CION Investment’s payout ratio is 97.96%.

Wall Street Analyst Weigh In

A number of analysts have commented on CION shares. Wells Fargo & Company lowered their price target on 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 research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price on the stock.

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.