CION Investment Co. (NYSE:CION) Short Interest Update

CION Investment Co. (NYSE:CION) was the recipient of a significant increase in short interest in 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. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 189,200 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CION. Lazard Asset Management LLC purchased a new position in shares of CION Investment in the first quarter worth $37,000. Cetera Investment Advisers boosted its holdings in shares of CION Investment by 2,340.1% during the 1st 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 in the last quarter. Cetera Advisors LLC grew its holdings in CION Investment by 19.6% in the first quarter. Cetera Advisors LLC now owns 139,063 shares of the company’s stock worth $1,530,000 after purchasing an additional 22,758 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of CION Investment in the 2nd quarter worth approximately $257,000. Finally, CWM LLC increased its position in CION Investment by 62.8% during the 2nd quarter. CWM LLC now owns 22,645 shares of the company’s stock valued at $274,000 after buying an additional 8,737 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Analyst Ratings Changes

CION has been the topic of several recent analyst reports. 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 report on Tuesday, October 29th. Oppenheimer started coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 target price for the company.

CION Investment Stock Performance

NYSE:CION traded up $0.02 during mid-day trading on Friday, reaching $11.75. The stock had a trading volume of 161,950 shares, compared to its average volume of 228,233. CION Investment has a one year low of $10.52 and a one year high of $12.69. The firm has a 50 day moving average price of $11.75 and a two-hundred day moving average price of $12.02. The stock has a market capitalization of $626.16 million, a P/E ratio of 7.99 and a beta of 1.18.

CION Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.36 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.26%. CION Investment’s dividend payout ratio (DPR) is 97.96%.

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.