CION Investment Corporation (NYSE:CION – Get Free Report) declared a monthly dividend on Monday, March 9th. Investors of record on Friday, June 12th will be paid a dividend of 0.10 per share on Friday, June 26th. This represents a c) dividend on an annualized basis and a yield of 17.2%. The ex-dividend date of this dividend is Friday, June 12th.
CION Investment has a dividend payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect CION Investment to earn $1.09 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 110.1%.
CION Investment Stock Performance
Shares of NYSE:CION opened at $7.00 on Wednesday. CION Investment has a 52 week low of $6.50 and a 52 week high of $10.93. The company has a market capitalization of $348.28 million, a PE ratio of -174.83 and a beta of 1.10. The company has a 50 day moving average price of $7.07 and a two-hundred day moving average price of $8.28.
Institutional Investors Weigh In On CION Investment
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of CION Investment in the 2nd quarter valued at about $284,000. Invesco Ltd. grew its stake in CION Investment by 33.6% in the second quarter. Invesco Ltd. now owns 1,343,185 shares of the company’s stock valued at $12,854,000 after purchasing an additional 338,121 shares in the last quarter. StoneX Group Inc. increased its position in shares of CION Investment by 18.0% during the 2nd quarter. StoneX Group Inc. now owns 22,031 shares of the company’s stock worth $211,000 after purchasing an additional 3,365 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of CION Investment by 4.3% during the 2nd quarter. Raymond James Financial Inc. now owns 182,218 shares of the company’s stock worth $1,744,000 after purchasing an additional 7,532 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of CION Investment by 20.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 49,018 shares of the company’s stock valued at $469,000 after buying an additional 8,183 shares during the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.
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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