Hennion & Walsh Asset Management Inc. Has $5.75 Million Holdings in CION Investment Co. (NYSE:CION)

Hennion & Walsh Asset Management Inc. grew its position in CION Investment Co. (NYSE:CION - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 504,411 shares of the company's stock after purchasing an additional 62,365 shares during the period. Hennion & Walsh Asset Management Inc. owned about 0.95% of CION Investment worth $5,750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CION. Concurrent Investment Advisors LLC grew its position in shares of CION Investment by 2.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company's stock valued at $497,000 after purchasing an additional 1,190 shares during the period. Endowment Wealth Management Inc. boosted its holdings in shares of CION Investment by 2.6% in the third quarter. Endowment Wealth Management Inc. now owns 58,330 shares of the company's stock valued at $694,000 after buying an additional 1,489 shares during the period. Beck Capital Management LLC increased its position in shares of CION Investment by 6.5% during the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company's stock worth $351,000 after acquiring an additional 1,797 shares in the last quarter. Townsquare Capital LLC increased its position in shares of CION Investment by 7.0% during the third quarter. Townsquare Capital LLC now owns 31,438 shares of the company's stock worth $374,000 after acquiring an additional 2,061 shares in the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV raised its holdings in shares of CION Investment by 0.9% during the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 253,353 shares of the company's stock worth $3,015,000 after acquiring an additional 2,267 shares during the period. 32.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wells Fargo & Company lowered their target price on CION Investment from $12.00 to $11.50 and set an "equal weight" rating for the company in a report on Tuesday, October 29th. Oppenheimer initiated coverage on CION Investment in a report on Tuesday, October 8th. They set a "market perform" rating and a $13.00 price objective for the company.

CION Investment Stock Up 1.1 %

CION traded up $0.13 during trading hours on Thursday, hitting $11.43. 203,558 shares of the company's stock were exchanged, compared to its average volume of 250,796. The stock has a market cap of $608.84 million, a price-to-earnings ratio of 7.77 and a beta of 1.13. CION Investment Co. has a 1-year low of $10.52 and a 1-year high of $12.69. The stock's 50-day moving average is $11.48 and its two-hundred day moving average is $11.82.

CION Investment Announces Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, December 30th will be issued a $0.05 dividend. This represents a dividend yield of 0.43%. The ex-dividend date is Monday, December 30th. CION Investment's payout ratio is 97.96%.

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.