CION Investment Co. (NYSE:CION) Short Interest Down 56.7% in July

CION Investment Co. (NYSE:CION) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totalling 32,400 shares, a drop of 56.7% from the June 30th total of 74,900 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average trading volume of 202,600 shares, the days-to-cover ratio is currently 0.2 days.

Insider Transactions at CION Investment

In other news, insider Gregg A. Bresner bought 2,000 shares of the stock in a transaction dated Friday, May 17th. The stock was purchased at an average price of $12.51 per share, for a total transaction of $25,020.00. Following the acquisition, the insider now owns 52,099 shares of the company’s stock, valued at $651,758.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last quarter, insiders bought 3,210 shares of company stock worth $39,983. 0.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its position in CION Investment by 1,056.3% during the 4th quarter. International Assets Investment Management LLC now owns 879,533 shares of the company’s stock worth $99,480,000 after purchasing an additional 803,469 shares during the last quarter. Cetera Investment Advisers grew its position in CION Investment by 2,340.1% during the 1st quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock worth $5,765,000 after purchasing an additional 502,651 shares during the last quarter. Alpine Global Management LLC grew its position in CION Investment by 143.6% during the 1st quarter. Alpine Global Management LLC now owns 633,297 shares of the company’s stock worth $6,966,000 after purchasing an additional 373,297 shares during the last quarter. HighPoint Advisor Group LLC purchased a new stake in CION Investment during the 4th quarter worth approximately $1,680,000. Finally, Van ECK Associates Corp grew its position in CION Investment by 10.3% during the 4th quarter. Van ECK Associates Corp now owns 993,940 shares of the company’s stock worth $11,241,000 after purchasing an additional 92,882 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lifted their price objective on shares of CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, May 15th.

CION Investment Price Performance

Shares of NYSE:CION traded up $0.06 during trading hours on Friday, hitting $12.30. The company’s stock had a trading volume of 96,867 shares, compared to its average volume of 129,736. CION Investment has a 52 week low of $9.65 and a 52 week high of $12.69. The company has a market capitalization of $659.16 million, a price-to-earnings ratio of 5.04 and a beta of 1.19. The firm’s fifty day moving average price is $12.29 and its 200 day moving average price is $11.57.

CION Investment (NYSE:CION) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.60 EPS for the quarter. CION Investment had a net margin of 51.16% and a return on equity of 12.53%. The business had revenue of $73.55 million during the quarter.

CION Investment Announces Dividend

The firm also recently declared a Variable dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a dividend yield of 12%. CION Investment’s dividend payout ratio is currently 59.02%.

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.