Short Interest in CION Investment Co. (NYSE:CION) Expands By 124.3%

CION Investment Co. (NYSE:CION) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 157,900 shares, an increase of 124.3% from the October 31st total of 70,400 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 189,200 shares, the short-interest ratio is presently 0.8 days.

CION Investment Stock Up 0.2 %

CION traded up $0.02 during midday trading on Friday, hitting $11.75. 161,950 shares of the company were exchanged, compared to its average volume of 228,233. The firm has a market capitalization of $626.16 million, a P/E ratio of 7.99 and a beta of 1.18. The firm’s 50 day moving average price is $11.75 and its 200-day moving average price is $12.02. CION Investment has a 1-year low of $10.52 and a 1-year high of $12.69.

CION Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 12.26%. The ex-dividend date of this dividend is Monday, December 2nd. CION Investment’s payout ratio is presently 97.96%.

Institutional Trading of CION Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of CION Investment by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after purchasing an additional 170,635 shares during the period. Cetera Investment Advisers lifted its stake in CION Investment by 2,340.1% in the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after buying an additional 502,651 shares during the period. Diversify Wealth Management LLC bought a new position in shares of CION Investment during the 2nd quarter worth approximately $2,250,000. International Assets Investment Management LLC grew its position in shares of 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 worth $103,660,000 after buying an additional 797,880 shares during the period. Finally, Van ECK Associates Corp boosted its stake in CION Investment by 15.7% during the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock worth $14,996,000 after acquiring an additional 167,567 shares in the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Upgrades and Downgrades

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

About CION Investment

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.