CION Investment Co. (NYSE:CION) Sees Large Increase in Short Interest

CION Investment Co. (NYSE:CION) was the target of a significant increase in short interest in 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. Approximately 0.3% of the company’s stock are short sold. Based on an average trading volume of 189,200 shares, the short-interest ratio is currently 0.8 days.

Hedge Funds Weigh In On CION Investment

Institutional investors and hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of CION Investment in the first quarter worth about $37,000. Quantbot Technologies LP bought a new position in CION Investment in the 3rd quarter worth approximately $104,000. Focused Wealth Management Inc purchased a new position in CION Investment in the 3rd quarter valued at approximately $120,000. Legacy Investment Solutions LLC purchased a new position in CION Investment in the 3rd quarter valued at approximately $124,000. Finally, Virtu Financial LLC bought a new stake in CION Investment during the 3rd quarter valued at $127,000. 32.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Oppenheimer began coverage on shares of CION Investment in a research report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target for the company. Wells Fargo & Company lowered their target price on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th.

CION Investment Stock Up 0.2 %

NYSE CION traded up $0.02 during trading hours on Friday, reaching $11.75. 161,950 shares of the company were exchanged, compared to its average volume of 228,233. 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 has a 1 year low of $10.52 and a 1 year high of $12.69. The business’s 50 day simple moving average is $11.75 and its 200-day simple moving average is $12.02.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.36 dividend. The ex-dividend date of this dividend 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 presently 97.96%.

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.