CION Investment Co. (NYSE:CION) Short Interest Down 21.9% in January

CION Investment Co. (NYSE:CION - Get Free Report) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 240,000 shares, a decline of 21.9% from the January 15th total of 307,400 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 266,600 shares, the short-interest ratio is presently 0.9 days.

CION Investment Stock Up 1.2 %

NYSE:CION traded up $0.15 during trading hours on Wednesday, hitting $12.47. 282,528 shares of the stock traded hands, compared to its average volume of 231,585. The company has a market cap of $664.26 million, a price-to-earnings ratio of 8.48 and a beta of 1.13. CION Investment has a 1 year low of $10.52 and a 1 year high of $12.69. The stock has a 50 day moving average price of $11.53 and a 200 day moving average price of $11.71.

CION Investment Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, December 30th. This represents a yield of 0.43%. CION Investment's dividend payout ratio is presently 97.96%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their target price 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.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. purchased a new stake in shares of CION Investment in the fourth quarter worth about $11,882,000. International Assets Investment Management LLC lifted its holdings in shares of 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 buying an additional 797,880 shares during the period. Wells Fargo & Company MN lifted its position in shares of CION Investment by 6,958.9% in the 4th quarter. Wells Fargo & Company MN now owns 722,201 shares of the company's stock worth $8,233,000 after purchasing an additional 711,970 shares during the period. Bulldog Investors LLP boosted its position in CION Investment by 62.4% during the fourth quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company's stock valued at $19,190,000 after purchasing an additional 646,596 shares in the last quarter. Finally, Wealthfront Advisers LLC acquired a new stake in CION Investment in the fourth quarter valued at approximately $6,899,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

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.