Virtus ETF Advisers LLC Purchases 24,794 Shares of CION Investment Co. (NYSE:CION)

Virtus ETF Advisers LLC lifted its stake in CION Investment Co. (NYSE:CION - Free Report) by 43.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 81,660 shares of the company's stock after buying an additional 24,794 shares during the period. Virtus ETF Advisers LLC owned about 0.15% of CION Investment worth $931,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in CION Investment in the fourth quarter worth about $96,000. Coppell Advisory Solutions LLC boosted its stake in CION Investment by 11.1% in the 4th quarter. Coppell Advisory Solutions LLC now owns 10,966 shares of the company's stock valued at $123,000 after buying an additional 1,093 shares in the last quarter. GWN Securities Inc. bought a new stake in CION Investment in the fourth quarter valued at $124,000. Virtu Financial LLC acquired a new position in CION Investment during the third quarter worth $127,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of CION Investment during the fourth quarter valued at $127,000. 32.01% of the stock is owned by institutional investors and hedge funds.

CION Investment Price Performance

Shares of CION stock traded up $0.10 during trading hours on Friday, hitting $9.88. 181,297 shares of the company's stock were exchanged, compared to its average volume of 254,838. CION Investment Co. has a 52 week low of $8.51 and a 52 week high of $12.71. The stock has a market cap of $523.64 million, a price-to-earnings ratio of 6.72 and a beta of 1.17. The stock's 50-day moving average is $10.56 and its 200-day moving average is $11.26.

CION Investment (NYSE:CION - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.01). CION Investment had a return on equity of 11.49% and a net margin of 31.21%. The company had revenue of $87.91 million for the quarter, compared to the consensus estimate of $54.11 million. Equities research analysts forecast that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.36 dividend. The ex-dividend date was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 14.58%. CION Investment's payout ratio is 228.57%.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company lowered their target price on shares of CION Investment from $10.00 to $9.00 and set an "underweight" rating on the stock in a report on Monday.

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.