Invesco Ltd. Acquires Shares of 1,042,279 CION Investment Co. (NYSE:CION)

Invesco Ltd. bought a new position in CION Investment Co. (NYSE:CION - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,042,279 shares of the company's stock, valued at approximately $11,882,000. Invesco Ltd. owned about 1.96% of CION Investment as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in shares of CION Investment in the 4th quarter worth approximately $96,000. GWN Securities Inc. bought a new position in CION Investment in the fourth quarter worth approximately $124,000. Virtu Financial LLC purchased a new position in shares of CION Investment during the 3rd quarter worth $127,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of CION Investment during the 4th quarter valued at $127,000. Finally, Entropy Technologies LP purchased a new stake in shares of CION Investment in the 4th quarter worth $138,000. Institutional investors own 32.01% of the company's stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reiterated an "underweight" rating and issued a $10.00 price target (down from $11.00) on shares of CION Investment in a research report on Monday, March 17th.

CION Investment Stock Performance

CION stock traded up $0.12 during mid-day trading on Friday, reaching $10.10. 220,670 shares of the stock traded hands, compared to its average volume of 254,129. The stock has a market capitalization of $535.57 million, a PE ratio of 6.87 and a beta of 1.17. The business has a 50-day moving average price of $10.76 and a two-hundred day moving average price of $11.31. CION Investment Co. has a one year low of $8.51 and a one year high of $12.71.

CION Investment (NYSE:CION - Get Free Report) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $54.11 million. On average, equities analysts expect that CION Investment Co. will post 1.78 earnings per share for the current fiscal year.

CION Investment Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Friday, March 28th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, March 28th. This represents a $1.44 annualized dividend and a yield of 14.26%. CION Investment's dividend payout ratio (DPR) is 228.57%.

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.