Cetera Investment Advisers Has $5.31 Million Stake in CION Investment Co. (NYSE:CION)

Cetera Investment Advisers lowered its stake in CION Investment Co. (NYSE:CION - Free Report) by 16.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 438,484 shares of the company's stock after selling 85,647 shares during the period. Cetera Investment Advisers owned approximately 0.82% of CION Investment worth $5,314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Quadrature Capital Ltd lifted its stake 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 buying an additional 56,624 shares in the last quarter. Bulldog Investors LLP boosted its stake in CION Investment by 3.1% in the 4th quarter. Bulldog Investors LLP now owns 1,032,248 shares of the company's stock worth $11,675,000 after purchasing an additional 31,009 shares during the period. Creekmur Asset Management LLC purchased a new position in CION Investment during the 4th quarter worth approximately $42,000. BlueChip Wealth Advisors LLC acquired a new stake in CION Investment during the 4th quarter valued at $171,000. Finally, HighPoint Advisor Group LLC acquired a new stake in CION Investment during the 4th quarter valued at $1,680,000. Institutional investors and hedge funds own 32.01% of the company's stock.

CION Investment Price Performance

NYSE:CION traded up $0.04 during midday trading on Wednesday, reaching $11.74. The stock had a trading volume of 111,234 shares, compared to its average volume of 232,915. The stock has a market capitalization of $628.87 million, a P/E ratio of 4.81 and a beta of 1.18. CION Investment Co. has a 1-year low of $9.65 and a 1-year high of $12.69. The firm's fifty day simple moving average is $11.93 and its 200-day simple moving average is $11.91.

CION Investment (NYSE:CION - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share 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 for the quarter.

CION Investment Dividend Announcement

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

Analyst Ratings Changes

Separately, Oppenheimer assumed coverage on CION Investment in a report on Tuesday. They issued a "market perform" rating and a $13.00 target price on the stock.

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.