International Assets Investment Management LLC Cuts Stock Holdings in CION Investment Co. (NYSE:CION)

International Assets Investment Management LLC reduced its holdings in CION Investment Co. (NYSE:CION - Free Report) by 92.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,973 shares of the company's stock after selling 804,107 shares during the quarter. International Assets Investment Management LLC owned about 0.13% of CION Investment worth $766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Diversify Wealth Management LLC purchased a new position in CION Investment in the 2nd quarter valued at approximately $2,250,000. Strong Tower Advisory Services increased its position in shares of CION Investment by 1,469.2% in the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company's stock valued at $2,335,000 after buying an additional 183,696 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of CION Investment by 26.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 442,046 shares of the company's stock worth $5,260,000 after buying an additional 91,221 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of CION Investment by 5.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company's stock worth $15,617,000 after buying an additional 70,608 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in CION Investment by 13.6% in the 3rd quarter. Franklin Resources Inc. now owns 358,956 shares of the company's stock valued at $4,261,000 after acquiring an additional 43,076 shares during the last quarter. Institutional investors and hedge funds own 32.01% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CION shares. Wells Fargo & Company reduced their price target on shares of CION Investment from $12.00 to $11.50 and set an "equal weight" rating on the stock in a report on Tuesday, October 29th. Oppenheimer initiated coverage on CION Investment in a research note on Tuesday, October 8th. They issued a "market perform" rating and a $13.00 target price on the stock.

CION Investment Trading Down 1.4 %

Shares of CION Investment stock traded down $0.15 during mid-day trading on Friday, hitting $10.92. 360,372 shares of the stock were exchanged, compared to its average volume of 267,395. The stock has a market capitalization of $581.88 million, a price-to-earnings ratio of 7.43 and a beta of 1.13. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The company has a 50-day simple moving average of $11.52 and a 200 day simple moving average of $11.85.

CION Investment Announces Dividend

The firm also recently declared an annual dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, December 30th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a yield of 0.43%. CION Investment's dividend payout ratio (DPR) is presently 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.