Cwm LLC increased its stake in CION Investment Co. (NYSE: CION – Get Rating) by 56.2% in the third quarter, according to its latest SEC filing. The company owned 51,970 shares of the company after acquiring an additional 18,689 of his shares during the period. Cwm LLC owned approximately 0.09% of his CION Investment worth $442,000 as of the latest filing with the SEC.
Other hedge funds and other institutional investors have also recently changed positions in the company. Allworth Financial LP increased his position in CION Investment shares by 50.0% in the third quarter. Allworth Financial LP now owns 3,688 shares worth $31,000 after he purchased an additional 1,229 shares last quarter. Raymond James Financial Services Advisors Inc. increased his CION Investment stock position by 6.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,571 shares of the company worth $393,000 after he purchased an additional 1,536 shares last quarter. Heirloom Wealth Management increased its position in CION Investment equities by 11.9% in the second quarter. Heirloom Wealth Management now owns 16,275 shares worth $152,000 after purchasing an additional 1,726 shares last quarter. Gradient Investments LLC increased its CION Investment equity position by 221.4% in the third quarter. Gradient Investments LLC now owns 3,066 shares of the company, valued at $26,000, after purchasing an additional 2,112 shares in the previous quarter. Finally, Focused Wealth Management Inc increased its position in CION Investment shares by 42.3% in the third quarter. Focused Wealth Management Inc now owns 9,877 shares worth $84,000 after purchasing an additional 2,937 shares last quarter. 27.22% of the shares are owned by institutional investors.
CION investment shares fell 0.6%
NYSE:CION shares opened Friday at $10.77. CION Investment Co. has a 12-month low of $7.83 and a 12-month high of $15.09. The company has a 50-day moving average price of $10.22 and a 200-day moving average price of $9.58. The company has a market cap of $596.95 million, a P/E of 10.77 and a beta of 1.49.
Dividend increase due to investment in CION
The business recently announced a dividend to be paid on Tuesday, January 31st. Dividends of $0.27 per share will be issued to shareholders of record on Friday, December 30. The ex-dividend date for this dividend is Thursday, December 29. This represents a yield of 11.8% for him. This is a positive change from CION Investment’s previous dividend of $0.20. CION Investment’s dividend payout ratio is currently 124.00%.
In related news, CFO Keith S. Franz acquired 10,000 shares of the company in a deal on Wednesday, November 30th. The shares were purchased at an average price of $10.01 per share for an aggregate amount of $100,100.00. Post-acquisition, the Chief Financial Officer now directly owns 55,500 of his shares valued at $555,555. The purchase was disclosed in legal filings with the SEC that can be accessed at this link. The insider said that in the past 90 days he has purchased a total of 12,000 shares of company stock worth $120,550. His 0.25% of shares are now owned by insiders.
Analyst sets new price target
Separately, Wells Fargo & Company raised its price target on CION Investment from $9.50 to $10.25 and gave the stock an Overweight rating in its research report on Friday, November 11.
CION Investment Company Profile
Shion Investment Corporation is a business development company. We specialize in investing in senior secured loans such as unitranche loans, first lien, second lien loans, long-term subordinated loans and mezzanine loans. Equity interests such as warrants and options. and corporate bonds. and other debt securities of mid-market companies.
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