CION Investment Corporation (CION) To Go Ex-Dividend on February 13th

CION Investment Corporation (NYSE:CION) declared a monthly dividend on Tuesday, January 6th. Shareholders of record on Friday, February 13th will be paid a dividend of 0.10 per share on Friday, February 27th. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date of this dividend is Friday, February 13th.

CION Investment has a payout ratio of 95.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect CION Investment to earn $1.35 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 88.9%.

CION Investment Price Performance

NYSE CION opened at $8.86 on Wednesday. The company has a fifty day moving average price of $9.55 and a 200-day moving average price of $9.76. The firm has a market cap of $461.52 million, a price-to-earnings ratio of 17.37 and a beta of 1.07. CION Investment has a 1 year low of $8.51 and a 1 year high of $12.71.

Hedge Funds Weigh In On CION Investment

Institutional investors and hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC raised its stake in shares of CION Investment by 3.3% in the second quarter. AE Wealth Management LLC now owns 33,123 shares of the company’s stock valued at $317,000 after buying an additional 1,044 shares during the period. Kestra Private Wealth Services LLC increased its holdings in CION Investment by 5.0% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 23,324 shares of the company’s stock worth $221,000 after acquiring an additional 1,111 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in CION Investment by 7.2% in the 3rd quarter. Golden State Wealth Management LLC now owns 20,219 shares of the company’s stock worth $192,000 after acquiring an additional 1,363 shares during the last quarter. Ameriprise Financial Inc. raised its stake in CION Investment by 2.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 50,424 shares of the company’s stock valued at $478,000 after acquiring an additional 1,406 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its holdings in CION Investment by 8.1% during the third quarter. Orion Porfolio Solutions LLC now owns 19,269 shares of the company’s stock valued at $183,000 after purchasing an additional 1,438 shares during the last quarter. 32.01% of the stock is owned by institutional investors.

About CION Investment

CION Investment Corporation is a closed‐end, non‐diversified management investment company organized as a business development company under the Investment Company Act of 1940. Externally managed by CION Investment Management, LLC, the firm specializes in providing flexible capital solutions to U.S. and Canadian middle‐market companies. By combining debt and equity financing, CION seeks to support growth, acquisitions, recapitalizations and other strategic initiatives for its portfolio companies.

The company’s investment strategy centers on senior secured loans, subordinated debt and private equity interests.