EWG Elevate Inc. Sells 2,320 Shares of CION Investment Co. (NYSE:CION)

EWG Elevate Inc. trimmed its holdings in shares of CION Investment Co. (NYSE:CION) by 8.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,474 shares of the company’s stock after selling 2,320 shares during the period. EWG Elevate Inc.’s holdings in CION Investment were worth $290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Diversify Wealth Management LLC bought a new position in shares of CION Investment during the second quarter valued at $2,250,000. International Assets Investment Management LLC lifted its stake in CION Investment by 1,090.0% during the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock valued at $103,660,000 after acquiring an additional 797,880 shares during the period. Van ECK Associates Corp boosted its holdings in shares of CION Investment by 5.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock valued at $15,617,000 after acquiring an additional 70,608 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of CION Investment by 26.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 442,046 shares of the company’s stock worth $5,260,000 after acquiring an additional 91,221 shares during the period. Finally, Strong Tower Advisory Services raised its holdings in shares of CION Investment by 1,469.2% during the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock valued at $2,335,000 after purchasing an additional 183,696 shares during the last quarter. Institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

Shares of CION Investment stock opened at $10.92 on Monday. The stock has a market capitalization of $581.88 million, a PE ratio of 7.43 and a beta of 1.13. CION Investment Co. has a 1-year low of $10.52 and a 1-year high of $12.69. The company’s fifty day simple moving average is $11.50 and its 200-day simple moving average is $11.84.

CION Investment Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CION shares. Oppenheimer assumed coverage on CION Investment in a research note on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target on the stock. Wells Fargo & Company cut their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

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.