CION Investment Co. (NYSE:CION) Shares Sold by Diversify Wealth Management LLC

Diversify Wealth Management LLC lowered its stake in shares of CION Investment Co. (NYSE:CION) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,958 shares of the company’s stock after selling 15,143 shares during the quarter. Diversify Wealth Management LLC owned about 0.32% of CION Investment worth $1,842,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mercer Global Advisors Inc. ADV raised its stake in CION Investment by 20.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 46,980 shares of the company’s stock worth $569,000 after purchasing an additional 7,832 shares during the period. AE Wealth Management LLC raised its position in shares of CION Investment by 18.5% in the 2nd quarter. AE Wealth Management LLC now owns 29,022 shares of the company’s stock worth $352,000 after buying an additional 4,533 shares during the period. Sei Investments Co. acquired a new position in CION Investment in the second quarter valued at $316,000. Beck Capital Management LLC grew its position in CION Investment by 17.5% during the second quarter. Beck Capital Management LLC now owns 27,714 shares of the company’s stock valued at $336,000 after acquiring an additional 4,118 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in CION Investment during the second quarter worth about $390,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CION has been the subject of a number of research reports. Wells Fargo & Company decreased their target price on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Oppenheimer initiated coverage on shares of CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective for the company.

CION Investment Price Performance

NYSE:CION opened at $11.42 on Tuesday. CION Investment Co. has a 12 month low of $10.52 and a 12 month high of $12.69. The business’s 50-day moving average is $11.47 and its two-hundred day moving average is $11.81. The firm has a market capitalization of $608.31 million, a PE ratio of 7.77 and a beta of 1.13.

CION Investment Announces Dividend

The company also recently announced an annual dividend, which will be paid on Monday, January 27th. Stockholders of record on Monday, December 30th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a dividend yield of 0.43%. CION Investment’s payout ratio is currently 97.96%.

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.