Acadian Asset Management LLC Buys 170,635 Shares of CION Investment Co. (NYSE:CION)

Acadian Asset Management LLC raised its position in CION Investment Co. (NYSE:CION - Free Report) by 32.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 695,609 shares of the company's stock after purchasing an additional 170,635 shares during the period. Acadian Asset Management LLC owned about 1.30% of CION Investment worth $8,427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Private Advisor Group LLC increased its stake in shares of CION Investment by 674.1% in the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company's stock worth $7,483,000 after buying an additional 537,681 shares during the last quarter. Founders Financial Securities LLC raised its stake in CION Investment by 33.4% during the 2nd quarter. Founders Financial Securities LLC now owns 55,412 shares of the company's stock valued at $672,000 after acquiring an additional 13,869 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV boosted its position in CION Investment by 2.1% during the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 251,086 shares of the company's stock worth $3,043,000 after acquiring an additional 5,145 shares during the period. Endowment Wealth Management Inc. grew its stake in shares of CION Investment by 2.3% in the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company's stock worth $689,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of CION Investment by 15.7% during the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company's stock valued at $14,996,000 after purchasing an additional 167,567 shares during the period. Hedge funds and other institutional investors own 32.01% of the company's stock.

Wall Street Analyst Weigh In

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

CION Investment Stock Performance

Shares of NYSE:CION traded down $0.01 during midday trading on Wednesday, reaching $11.55. The company had a trading volume of 211,702 shares, compared to its average volume of 239,713. The company has a fifty day simple moving average of $12.11 and a two-hundred day simple moving average of $11.77. The firm has a market cap of $618.95 million, a price-to-earnings ratio of 4.73 and a beta of 1.19. CION Investment Co. has a 1-year low of $9.65 and a 1-year high of $12.69.

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

CION Investment Announces Dividend

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 $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 12.47%. The ex-dividend date is Tuesday, September 3rd. CION Investment's dividend payout ratio is 59.02%.

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.