CION Investment (NYSE:CION) Reaches New 52-Week High – What’s Next?

CION Investment Co. (NYSE:CION)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $12.71 and last traded at $12.63, with a volume of 13235 shares traded. The stock had previously closed at $12.54.

CION Investment Stock Performance

The firm has a market capitalization of $651.37 million, a price-to-earnings ratio of 8.32 and a beta of 1.13. The firm’s 50-day moving average price is $11.68 and its two-hundred day moving average price is $11.75.

CION Investment Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, January 27th. Stockholders of record on Monday, December 30th were paid a $0.05 dividend. The ex-dividend date was Monday, December 30th. This represents a dividend yield of 0.43%. CION Investment’s dividend payout ratio is currently 97.96%.

Hedge Funds Weigh In On CION Investment

A number of hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in CION Investment by 5.7% during the third quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock worth $15,617,000 after acquiring an additional 70,608 shares in the last quarter. Focused Wealth Management Inc bought a new stake in shares of CION Investment in the 3rd quarter worth about $120,000. Catalina Capital Group LLC increased its position in shares of CION Investment by 18.8% during the 3rd quarter. Catalina Capital Group LLC now owns 27,237 shares of the company’s stock worth $324,000 after purchasing an additional 4,306 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in CION Investment by 2.9% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock valued at $497,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV boosted its position in CION Investment by 0.9% in the third quarter. Acorn Financial Advisory Services Inc. ADV now owns 253,353 shares of the company’s stock valued at $3,015,000 after buying an additional 2,267 shares in the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

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.