CION Investment Co. (NYSE:CION) Sees Significant Increase in Short Interest

CION Investment Co. (NYSE:CION) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 207,900 shares, an increase of 203.9% from the February 29th total of 68,400 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average trading volume of 300,900 shares, the days-to-cover ratio is currently 0.7 days.

CION Investment Stock Down 0.4 %

Shares of NYSE CION traded down $0.04 during trading on Thursday, reaching $11.05. The company had a trading volume of 156,022 shares, compared to its average volume of 309,024. The business’s 50-day moving average is $10.99 and its 200 day moving average is $10.82. CION Investment has a 12-month low of $8.99 and a 12-month high of $12.00. The stock has a market cap of $594.98 million, a PE ratio of 6.31 and a beta of 1.24.

CION Investment Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 22nd will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 12.31%. The ex-dividend date of this dividend is Thursday, March 21st. CION Investment’s dividend payout ratio (DPR) is presently 77.27%.

Insider Activity at CION Investment

In other CION Investment news, insider Gregg A. Bresner bought 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was bought at an average price of $10.78 per share, for a total transaction of $43,120.00. Following the completion of the acquisition, the insider now directly owns 50,099 shares in the company, valued at $540,067.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CION Investment

Several institutional investors have recently added to or reduced their stakes in CION. Tidemark LLC purchased a new position in CION Investment during the 4th quarter valued at approximately $26,000. IAG Wealth Partners LLC raised its position in shares of CION Investment by 1,628.9% in the 3rd quarter. IAG Wealth Partners LLC now owns 2,576 shares of the company’s stock worth $27,000 after acquiring an additional 2,427 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in CION Investment during the 3rd quarter valued at about $37,000. Almanack Investment Partners LLC. acquired a new position in CION Investment during the 3rd quarter valued at about $39,000. Finally, Tyler Stone Wealth Management purchased a new stake in CION Investment during the 2nd quarter valued at about $40,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

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.