CION Investment Co. (NYSE:CION) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in CION Investment Co. (NYSE:CION - Free Report) by 10.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 259,744 shares of the company's stock after selling 30,266 shares during the quarter. Cetera Investment Advisers owned 0.49% of CION Investment worth $2,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new stake in shares of CION Investment during the 4th quarter worth $96,000. Aquatic Capital Management LLC acquired a new stake in shares of CION Investment in the 4th quarter worth approximately $103,000. GWN Securities Inc. acquired a new stake in shares of CION Investment in the 4th quarter worth approximately $124,000. Coppell Advisory Solutions LLC raised its holdings in CION Investment by 11.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock worth $123,000 after purchasing an additional 1,093 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in CION Investment during the fourth quarter worth $127,000. 32.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company dropped their price target on CION Investment from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Monday, April 28th.

CION Investment Stock Down 0.6%

Shares of CION traded down $0.05 on Thursday, hitting $9.51. 40,287 shares of the stock traded hands, compared to its average volume of 256,749. The firm has a market capitalization of $500.84 million, a P/E ratio of 6.47 and a beta of 1.18. The stock's 50 day moving average is $9.87 and its two-hundred day moving average is $11.05. CION Investment Co. has a 1 year low of $8.51 and a 1 year high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $56.07 million for the quarter, compared to analyst estimates of $54.15 million. CION Investment had a return on equity of 11.49% and a net margin of 31.21%. Research analysts forecast that CION Investment Co. will post 1.78 EPS for the current year.

CION Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 15.15%. The ex-dividend date is Monday, June 2nd. CION Investment's dividend payout ratio is currently -496.55%.

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.