Hennion & Walsh Asset Management Inc. Has $5.26 Million Stake in CION Investment Co. (NYSE:CION)

Hennion & Walsh Asset Management Inc. grew its holdings in CION Investment Co. (NYSE:CION - Free Report) by 26.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 442,046 shares of the company's stock after purchasing an additional 91,221 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 0.82% of CION Investment worth $5,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Kowal Investment Group LLC boosted its holdings in CION Investment by 3.7% during the first quarter. Kowal Investment Group LLC now owns 27,290 shares of the company's stock worth $300,000 after buying an additional 964 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in CION Investment by 20.1% during the first quarter. Commonwealth Equity Services LLC now owns 326,469 shares of the company's stock valued at $3,591,000 after purchasing an additional 54,550 shares during the period. BlueChip Wealth Advisors LLC increased its stake in CION Investment by 62.9% in the first quarter. BlueChip Wealth Advisors LLC now owns 24,564 shares of the company's stock valued at $270,000 after purchasing an additional 9,482 shares in the last quarter. Van ECK Associates Corp raised its holdings in CION Investment by 7.6% in the first quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company's stock worth $11,768,000 after purchasing an additional 75,859 shares during the period. Finally, Diversify Advisory Services LLC bought a new position in shares of CION Investment during the first quarter worth $145,000. 32.01% of the stock is owned by institutional investors.

CION Investment Stock Up 0.7 %

Shares of CION traded up $0.08 on Thursday, hitting $12.02. The company's stock had a trading volume of 119,158 shares, compared to its average volume of 228,734. The firm has a market capitalization of $644.14 million, a price-to-earnings ratio of 4.93 and a beta of 1.18. The firm's fifty day moving average price is $11.95 and its 200-day moving average price is $11.98. CION Investment Co. has a fifty-two week low of $9.65 and a fifty-two week high of $12.69.

CION Investment (NYSE:CION - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter. The firm had revenue of $61.36 million during the quarter. CION Investment had a return on equity of 12.39% and a net margin of 48.50%. As a group, equities analysts predict that CION Investment Co. will post 1.77 earnings per share for the current fiscal year.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.98%. CION Investment's dividend payout ratio (DPR) is presently 59.02%.

Analysts Set New Price Targets

Separately, Oppenheimer initiated coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a "market perform" rating and a $13.00 price objective for the company.

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.