CION Investment Co. (NYSE:CION) Short Interest Update

CION Investment Co. (NYSE:CION - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 439,900 shares, an increase of 25.9% from the March 15th total of 349,400 shares. Currently, 0.8% of the company's stock are short sold. Based on an average trading volume of 348,800 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company reissued an "underweight" rating and issued a $10.00 target price (down from $11.00) on shares of CION Investment in a research note on Monday, March 17th.

CION Investment Stock Up 1.0 %

Shares of CION Investment stock traded up $0.10 on Thursday, reaching $9.97. The company's stock had a trading volume of 15,345 shares, compared to its average volume of 351,068. CION Investment has a 52 week low of $8.51 and a 52 week high of $12.71. The company has a market capitalization of $528.68 million, a price-to-earnings ratio of 6.78 and a beta of 1.17. The firm's fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $11.34.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The firm had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. CION Investment had a net margin of 31.21% and a return on equity of 11.49%. As a group, research analysts predict that CION Investment will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were paid a $0.36 dividend. The ex-dividend date was Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 14.44%. CION Investment's dividend payout ratio (DPR) is 228.57%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CION. Bulldog Investors LLP increased its stake in shares of CION Investment by 62.4% in the fourth quarter. Bulldog Investors LLP now owns 1,682,352 shares of the company's stock worth $19,190,000 after purchasing an additional 646,596 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of CION Investment by 1.7% in the fourth quarter. Van ECK Associates Corp now owns 1,329,799 shares of the company's stock worth $15,160,000 after acquiring an additional 21,825 shares during the period. Invesco Ltd. purchased a new stake in shares of CION Investment during the fourth quarter worth about $11,882,000. Wells Fargo & Company MN raised its stake in CION Investment by 6,958.9% during the 4th quarter. Wells Fargo & Company MN now owns 722,201 shares of the company's stock valued at $8,233,000 after purchasing an additional 711,970 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in CION Investment by 2.5% in the 4th quarter. Private Advisor Group LLC now owns 667,922 shares of the company's stock worth $7,614,000 after purchasing an additional 16,417 shares in the last quarter. 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.