Private Advisor Group LLC Buys 537,681 Shares of CION Investment Co. (NYSE:CION)

Private Advisor Group LLC lifted its holdings in CION Investment Co. (NYSE:CION - Free Report) by 674.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 617,444 shares of the company's stock after purchasing an additional 537,681 shares during the quarter. Private Advisor Group LLC owned 1.15% of CION Investment worth $7,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CION. Hennion & Walsh Asset Management Inc. boosted its holdings 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 buying an additional 87,382 shares during the last quarter. Van ECK Associates Corp grew its position in shares of CION Investment by 7.6% during the 1st quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company's stock valued at $11,768,000 after acquiring an additional 75,859 shares during the period. Cetera Investment Advisers raised its holdings in CION Investment by 2,340.1% in the 1st 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. HighPoint Advisor Group LLC purchased a new position in shares of CION Investment during the 4th quarter valued at about $1,680,000. Finally, Quadrature Capital Ltd lifted its holdings in CION Investment by 92.7% during the fourth quarter. Quadrature Capital Ltd now owns 117,710 shares of the company's stock valued at $1,332,000 after purchasing an additional 56,624 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company's stock.

CION Investment Stock Performance

NYSE:CION traded up $0.02 during trading hours on Monday, reaching $11.63. The stock had a trading volume of 161,408 shares, compared to its average volume of 239,942. The stock has a market capitalization of $621.62 million, a PE ratio of 4.77 and a beta of 1.19. CION Investment Co. has a 52 week low of $9.65 and a 52 week high of $12.69. The company has a 50 day moving average price of $12.15 and a two-hundred day moving average price of $11.76.

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

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.44 annualized dividend and a dividend yield of 12.38%. CION Investment's dividend payout ratio (DPR) is presently 59.02%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their price target 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 Company 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.