Diversify Wealth Management LLC Invests $2.25 Million in CION Investment Co. (NYSE:CION)

Diversify Wealth Management LLC purchased a new stake in CION Investment Co. (NYSE:CION - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 193,776 shares of the company's stock, valued at approximately $2,250,000. Diversify Wealth Management LLC owned about 0.36% of CION Investment as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Acadian Asset Management LLC raised its stake in shares of CION Investment by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company's stock valued at $8,427,000 after acquiring an additional 170,635 shares during the period. Private Advisor Group LLC lifted its stake in CION Investment by 674.1% during the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company's stock worth $7,483,000 after purchasing an additional 537,681 shares in the last quarter. Founders Financial Securities LLC boosted its position in shares of CION Investment by 33.4% during the second quarter. Founders Financial Securities LLC now owns 55,412 shares of the company's stock worth $672,000 after buying an additional 13,869 shares during the period. Acorn Financial Advisory Services Inc. ADV grew its stake in shares of CION Investment by 2.1% in the second quarter. Acorn Financial Advisory Services Inc. ADV now owns 251,086 shares of the company's stock valued at $3,043,000 after buying an additional 5,145 shares in the last quarter. Finally, Endowment Wealth Management Inc. raised its holdings in shares of CION Investment by 2.3% in the 2nd quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company's stock valued at $689,000 after buying an additional 1,253 shares during the period. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Trading Up 1.0 %

CION Investment stock traded up $0.12 during midday trading on Friday, reaching $11.74. 106,662 shares of the stock traded hands, compared to its average volume of 238,582. The firm has a market cap of $629.13 million, a PE ratio of 4.81 and a beta of 1.19. The company has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $11.79. CION Investment Co. has a 12-month low of $9.65 and a 12-month high of $12.69.

CION Investment (NYSE:CION - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $61.36 million during the quarter.

CION Investment Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 12.27%. The ex-dividend date is Tuesday, September 3rd. CION Investment's payout ratio is currently 59.02%.

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.