CION Investment (NYSE:CION) Sets New 12-Month High After Dividend Announcement

CION Investment Co. (NYSE:CION - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $12.05 and last traded at $12.03, with a volume of 65554 shares. The stock had previously closed at $11.91.

The newly announced dividend which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.36 dividend. This is a positive change from CION Investment's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 11.90%. The ex-dividend date of this dividend is Monday, June 3rd. CION Investment's dividend payout ratio is currently 77.27%.

CION Investment Stock Up 1.6 %

The stock has a market cap of $651.46 million, a P/E ratio of 6.88 and a beta of 1.19. The stock has a fifty day simple moving average of $11.10 and a 200-day simple moving average of $11.00.

CION Investment (NYSE:CION - Get Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter. CION Investment had a net margin of 37.97% and a return on equity of 12.33%. The company had revenue of $73.55 million for the quarter.

Insider Buying and Selling

In related news, insider Gregg A. Bresner acquired 4,000 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The shares were acquired at an average cost of $10.78 per share, with a total value of $43,120.00. Following the transaction, the insider now owns 50,099 shares of the company's stock, valued at approximately $540,067.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders acquired 6,519 shares of company stock valued at $70,760. 0.44% of the stock is owned by corporate insiders.

Institutional Trading of CION Investment

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its position in CION Investment by 7.6% during the first quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company's stock valued at $11,768,000 after purchasing an additional 75,859 shares during the last quarter. Bulldog Investors LLP increased its position in CION Investment by 3.1% during the fourth quarter. Bulldog Investors LLP now owns 1,032,248 shares of the company's stock worth $11,675,000 after acquiring an additional 31,009 shares during the period. LPL Financial LLC boosted its holdings in CION Investment by 1.3% in the 3rd quarter. LPL Financial LLC now owns 949,385 shares of the company's stock valued at $10,035,000 after purchasing an additional 12,049 shares during the period. International Assets Investment Management LLC grew its position in shares of CION Investment by 1,056.3% during the 4th quarter. International Assets Investment Management LLC now owns 879,533 shares of the company's stock worth $99,480,000 after purchasing an additional 803,469 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of CION Investment by 11.0% during the third quarter. Acadian Asset Management LLC now owns 656,910 shares of the company's stock worth $6,938,000 after purchasing an additional 65,039 shares during the period. Institutional investors own 32.01% of the company's stock.

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.