CION Investment Co. (NYSE:CION) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp lifted its stake in CION Investment Co. (NYSE:CION - Free Report) by 15.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,237,366 shares of the company's stock after acquiring an additional 167,567 shares during the quarter. Van ECK Associates Corp owned 2.31% of CION Investment worth $14,996,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its stake in CION Investment by 2,340.1% during the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company's stock worth $5,765,000 after purchasing an additional 502,651 shares during the period. Alpine Global Management LLC lifted its holdings in CION Investment by 143.6% during the 1st quarter. Alpine Global Management LLC now owns 633,297 shares of the company's stock worth $6,966,000 after buying an additional 373,297 shares in the last quarter. HighPoint Advisor Group LLC acquired a new stake in CION Investment during the 4th quarter worth approximately $1,680,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of CION Investment by 42.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company's stock worth $3,249,000 after acquiring an additional 87,382 shares in the last quarter. Finally, Quadrature Capital Ltd increased its position in shares of CION Investment by 92.7% during the fourth quarter. Quadrature Capital Ltd now owns 117,710 shares of the company's stock worth $1,332,000 after acquiring an additional 56,624 shares during the period. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Price Performance

Shares of CION stock traded up $0.15 during trading hours on Monday, reaching $12.30. 194,100 shares of the stock were exchanged, compared to its average volume of 241,437. CION Investment Co. has a 12-month low of $9.65 and a 12-month high of $12.69. The business's fifty day moving average is $12.18 and its two-hundred day moving average is $11.74. The firm has a market capitalization of $659.14 million, a P/E ratio of 5.04 and a beta of 1.19.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. The business had revenue of $61.36 million for the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.44 annualized dividend and a dividend yield of 11.71%. CION Investment's dividend payout ratio is currently 59.02%.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their target price on CION Investment from $11.50 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 15th.

CION Investment Profile

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.