CION Investment Co. (NYSE:CION) Stock Holdings Lowered by Financial Gravity Asset Management Inc.

Financial Gravity Asset Management Inc. cut its holdings in shares of CION Investment Co. (NYSE:CION) by 34.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,233 shares of the company’s stock after selling 8,612 shares during the period. Financial Gravity Asset Management Inc.’s holdings in CION Investment were worth $197,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CION. Acadian Asset Management LLC lifted its position in shares of CION Investment by 32.5% during 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 last quarter. Private Advisor Group LLC lifted its holdings in shares of CION Investment by 674.1% during the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock valued at $7,483,000 after purchasing an additional 537,681 shares during the last quarter. Founders Financial Securities LLC boosted its position in shares of CION Investment by 33.4% in the 2nd quarter. Founders Financial Securities LLC now owns 55,412 shares of the company’s stock valued at $672,000 after purchasing an additional 13,869 shares during the period. Acorn Financial Advisory Services Inc. ADV increased its stake in CION Investment by 2.1% in the 2nd quarter. Acorn Financial Advisory Services Inc. ADV now owns 251,086 shares of the company’s stock worth $3,043,000 after purchasing an additional 5,145 shares in the last quarter. Finally, Endowment Wealth Management Inc. raised its holdings in CION Investment by 2.3% during the 2nd quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after buying an additional 1,253 shares during the period. 32.01% of the stock is currently owned by institutional investors.

CION Investment Trading Down 1.5 %

CION opened at $11.61 on Friday. The stock has a fifty day moving average price of $12.15 and a 200 day moving average price of $11.76. CION Investment Co. has a 1 year low of $9.65 and a 1 year high of $12.69. The stock has a market cap of $622.17 million, a price-to-earnings ratio of 4.76 and a beta of 1.19.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter. The business 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%.

CION Investment Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.40%. CION Investment’s dividend payout ratio is currently 59.02%.

Analyst Upgrades and Downgrades

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

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.