CION Investment (NYSE:CION) Hits New 12-Month High After Dividend Announcement

Shares of CION Investment Co. (NYSE:CIONGet Free Report) reached a new 52-week high during trading on Friday following a dividend announcement from the company. The company traded as high as $12.05 and last traded at $12.03, with a volume of 65554 shares. The stock had previously closed at $11.91.

The newly announced dividend which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.36 dividend. This is an increase from CION Investment’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 11.90%. CION Investment’s payout ratio is presently 77.27%.

CION Investment Stock Performance

The stock has a 50-day moving average of $11.10 and a two-hundred day moving average of $11.00. The company has a market cap of $651.46 million, a P/E ratio of 6.88 and a beta of 1.19.

CION Investment (NYSE:CIONGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter. CION Investment had a return on equity of 12.33% and a net margin of 37.97%. The firm had revenue of $73.55 million during the quarter.

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. Insiders acquired a total of 6,519 shares of company stock worth $70,760 over the last quarter. 0.44% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On CION Investment

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC grew its stake in CION Investment by 14.0% in the third quarter. Commonwealth Equity Services LLC now owns 283,870 shares of the company’s stock worth $3,001,000 after purchasing an additional 34,952 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in CION Investment by 93.9% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 107,263 shares of the company’s stock worth $1,134,000 after purchasing an additional 51,939 shares during the period. Arete Wealth Advisors LLC grew its stake in CION Investment by 29.4% in the third quarter. Arete Wealth Advisors LLC now owns 14,761 shares of the company’s stock worth $156,000 after purchasing an additional 3,352 shares during the period. WealthPlan Investment Management LLC grew its stake in CION Investment by 883,149.1% in the third quarter. WealthPlan Investment Management LLC now owns 468,122 shares of the company’s stock worth $4,948,000 after purchasing an additional 468,069 shares during the period. Finally, Sigma Planning Corp grew its stake in CION Investment by 0.6% in the third quarter. Sigma Planning Corp now owns 303,887 shares of the company’s stock worth $3,212,000 after purchasing an additional 1,896 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Company Profile

(Get Free Report)

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.

Further Reading

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