Western Wealth Management LLC Sells 3,440 Shares of CION Investment Co. (NYSE:CION)

Western Wealth Management LLC trimmed its holdings in shares of CION Investment Co. (NYSE:CION) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,505 shares of the company’s stock after selling 3,440 shares during the quarter. Western Wealth Management LLC’s holdings in CION Investment were worth $243,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC grew its position in CION Investment by 1,628.9% during the third quarter. IAG Wealth Partners LLC now owns 2,576 shares of the company’s stock valued at $27,000 after buying an additional 2,427 shares during the period. FinTrust Capital Advisors LLC bought a new position in shares of CION Investment in the third quarter worth approximately $37,000. Huntington National Bank bought a new position in shares of CION Investment in the third quarter worth approximately $50,000. Geneos Wealth Management Inc. boosted its position in shares of CION Investment by 27.4% in the third quarter. Geneos Wealth Management Inc. now owns 9,637 shares of the company’s stock worth $102,000 after purchasing an additional 2,072 shares during the period. Finally, Great Valley Advisor Group Inc. boosted its position in shares of CION Investment by 8.9% in the third quarter. Great Valley Advisor Group Inc. now owns 13,630 shares of the company’s stock worth $144,000 after purchasing an additional 1,111 shares during the period. 32.01% of the stock is currently owned by institutional investors.

CION Investment Price Performance

CION opened at $11.29 on Tuesday. The firm has a market cap of $607.90 million, a P/E ratio of 6.41 and a beta of 1.24. CION Investment Co. has a 1-year low of $8.99 and a 1-year high of $12.00. The company has a 50 day simple moving average of $10.96 and a two-hundred day simple moving average of $10.88.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, March 14th. The company reported $0.40 earnings per share for the quarter. The business had revenue of $60.00 million during the quarter. CION Investment had a net margin of 37.97% and a return on equity of 12.33%.

CION Investment Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 22nd were given a dividend of $0.34 per share. The ex-dividend date was Thursday, March 21st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 12.05%. CION Investment’s dividend payout ratio is 77.27%.

Insider Buying and Selling

In related news, insider Gregg A. Bresner bought 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was purchased at an average price of $10.78 per share, for a total transaction of $43,120.00. Following the completion of the transaction, the insider now owns 50,099 shares in the company, valued at $540,067.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 6,519 shares of company stock worth $70,760. 0.44% of the stock is owned by insiders.

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.