Aveo Capital Partners LLC increased its holdings in CION Investment Co. (NYSE:CION – Get Rating) by 49.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,878 shares of the company's stock after purchasing an additional 18,783 shares during the quarter. Aveo Capital Partners LLC owned 0.10% of CION Investment worth $483,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC increased its position in shares of CION Investment by 123.9% in the second quarter. Millennium Management LLC now owns 737,237 shares of the company's stock worth $6,414,000 after acquiring an additional 407,899 shares in the last quarter. Bulldog Investors LLP increased its position in shares of CION Investment by 69.7% in the second quarter. Bulldog Investors LLP now owns 669,424 shares of the company's stock worth $5,824,000 after acquiring an additional 275,010 shares in the last quarter. Kestra Advisory Services LLC increased its position in shares of CION Investment by 61.3% in the third quarter. Kestra Advisory Services LLC now owns 663,814 shares of the company's stock worth $5,642,000 after acquiring an additional 252,148 shares in the last quarter. Pinkerton Retirement Specialists LLC purchased a new position in shares of CION Investment in the second quarter worth approximately $4,865,000. Finally, LPL Financial LLC purchased a new position in shares of CION Investment in the second quarter worth approximately $4,190,000. 27.22% of the stock is currently owned by institutional investors.
Get CION Investment alerts:CION Investment Stock Performance
Shares of CION opened at $11.21 on Tuesday. The company's 50 day moving average price is $10.43 and its 200 day moving average price is $9.85. CION Investment Co. has a 52 week low of $7.83 and a 52 week high of $15.09. The company has a market capitalization of $621.37 million, a PE ratio of 11.21 and a beta of 1.47.
CION Investment (NYSE:CION – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The company reported $0.45 EPS for the quarter. CION Investment had a net margin of 31.47% and a return on equity of 9.01%. The firm had revenue of $54.16 million for the quarter.CION Investment Increases Dividend
The firm also recently announced a — dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th were given a $0.27 dividend. This represents a yield of 11.8%. This is an increase from CION Investment's previous — dividend of $0.20. The ex-dividend date was Thursday, December 29th. CION Investment's payout ratio is currently 124.00%.
Wall Street Analysts Forecast Growth
Separately, Wells Fargo & Company boosted their price objective on shares of CION Investment from $9.50 to $10.25 and gave the company an "overweight" rating in a research report on Friday, November 11th.
Insiders Place Their Bets
In other CION Investment news, CFO Keith S. Franz bought 10,000 shares of the firm's stock in a transaction on Wednesday, November 30th. The stock was bought at an average cost of $10.01 per share, with a total value of $100,100.00. Following the completion of the transaction, the chief financial officer now directly owns 55,500 shares of the company's stock, valued at approximately $555,555. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired 12,000 shares of company stock valued at $120,550 over the last ninety days. Corporate insiders own 0.25% of the company's stock.
CION Investment Profile
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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.
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- Get a free copy of the StockNews.com research report on CION Investment (CION)
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