Van ECK Associates Corp Purchases 268,242 Shares of CION Investment Corporation $CION

Van ECK Associates Corp grew its holdings in shares of CION Investment Corporation (NYSE:CION - Free Report) by 27.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,236,397 shares of the company's stock after purchasing an additional 268,242 shares during the period. Van ECK Associates Corp owned approximately 2.51% of CION Investment worth $7,703,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of CION Investment during the third quarter valued at $37,000. Empowered Funds LLC acquired a new stake in CION Investment during the second quarter worth about $67,000. OneDigital Investment Advisors LLC acquired a new position in CION Investment in the second quarter valued at approximately $73,000. Geneos Wealth Management Inc. lifted its holdings in CION Investment by 21.7% in the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company's stock valued at $84,000 after acquiring an additional 1,571 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in CION Investment by 183.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 8,872 shares of the company's stock worth $86,000 after purchasing an additional 5,739 shares in the last quarter. Hedge funds and other institutional investors own 32.01% of the company's stock.

Wall Street Analysts Forecast Growth

CION has been the topic of a number of analyst reports. Zacks Research cut shares of CION Investment from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of CION Investment from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Finally, Wells Fargo & Company lowered their price target on shares of CION Investment from $7.00 to $6.50 and set an "underweight" rating on the stock in a report on Monday, May 11th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $6.50.

CION Investment Trading Down 1.2%

Shares of CION Investment stock opened at $7.42 on Wednesday. CION Investment Corporation has a twelve month low of $5.83 and a twelve month high of $10.44. The firm has a market capitalization of $365.06 million, a PE ratio of 123.67 and a beta of 1.14. The firm's 50-day moving average price is $6.67 and its 200 day moving average price is $7.05.

CION Investment (NYSE:CION - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.26 by $0.03. The company had revenue of $49.79 million during the quarter, compared to analyst estimates of $49.78 million. CION Investment had a return on equity of 11.95% and a net margin of 1.17%. On average, sell-side analysts predict that CION Investment Corporation will post 1.08 EPS for the current fiscal year.

CION Investment Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 28th. Stockholders of record on Friday, December 11th will be given a $0.10 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 16.2%. The ex-dividend date is Friday, December 11th. CION Investment's dividend payout ratio is 2,000.00%.

CION Investment Company Profile

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.

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