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

CION Investment Co. (NYSE:CION) was the recipient of a significant increase in short interest during the month of 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. Based on an average trading volume of 189,200 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.3% of the shares of the company are short sold.

Institutional Trading of CION Investment

Several large investors have recently modified their holdings of the stock. International Assets Investment Management LLC increased its stake in shares of CION Investment by 1,090.0% in the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock valued at $103,660,000 after purchasing an additional 797,880 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of CION Investment by 674.1% in the second quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock worth $7,483,000 after acquiring an additional 537,681 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of CION Investment by 2,340.1% in the 1st quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after purchasing an additional 502,651 shares in the last quarter. Diversify Wealth Management LLC bought a new stake in shares of CION Investment during the 2nd quarter valued at approximately $2,250,000. Finally, Strong Tower Advisory Services increased its position in CION Investment by 1,469.2% during the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after purchasing an additional 183,696 shares in the last quarter. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Stock Up 0.2 %

Shares of CION traded up $0.02 during mid-day trading on Friday, hitting $11.75. 161,950 shares of the company’s stock were exchanged, compared to its average volume of 228,233. The firm has a market cap of $626.16 million, a price-to-earnings ratio of 7.99 and a beta of 1.18. The stock’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $12.02. CION Investment has a 52 week low of $10.52 and a 52 week high of $12.69.

CION Investment Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CION shares. Oppenheimer initiated coverage on shares of CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price objective on the stock. Wells Fargo & Company lowered their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Tuesday, October 29th.

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.