Virtu Financial LLC Takes Position in CION Investment Co. (NYSE:CION)

Virtu Financial LLC purchased a new position in shares of CION Investment Co. (NYSE:CION) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,632 shares of the company’s stock, valued at approximately $127,000.

Several other large investors have also recently added to or reduced their stakes in CION. Quantbot Technologies LP purchased a new stake in shares of CION Investment during the third quarter valued at approximately $104,000. Focused Wealth Management Inc acquired a new position in CION Investment in the 3rd quarter worth $120,000. Legacy Investment Solutions LLC purchased a new position in CION Investment in the 3rd quarter valued at about $124,000. First Heartland Consultants Inc. acquired a new stake in shares of CION Investment during the second quarter valued at about $145,000. Finally, Fullcircle Wealth LLC purchased a new stake in shares of CION Investment during the second quarter worth about $156,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Stock Performance

Shares of CION Investment stock opened at $11.59 on Friday. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.69. The firm’s 50-day simple moving average is $11.69 and its 200-day simple moving average is $11.94. The firm has a market cap of $617.58 million, a PE ratio of 7.88 and a beta of 1.14.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 12.42%. The ex-dividend date was Monday, December 2nd. CION Investment’s dividend payout ratio is presently 97.96%.

Wall Street Analyst Weigh In

CION has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th. Oppenheimer began coverage on CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price for the company.

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.