CION Investment Corporation (NYSE:CION – Get Free Report) announced a monthly dividend on Monday, May 4th. Investors of record on Friday, September 11th will be given a dividend of 0.10 per share on Friday, September 25th. This represents a c) dividend on an annualized basis and a dividend yield of 16.5%. The ex-dividend date of this dividend is Friday, September 11th.
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 $0.94 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 127.7%.
CION Investment Price Performance
NYSE CION opened at $7.26 on Wednesday. CION Investment has a 1-year low of $5.83 and a 1-year high of $10.40. The business has a 50 day simple moving average of $6.79 and a two-hundred day simple moving average of $7.01. The stock has a market capitalization of $357.46 million, a PE ratio of 121.08 and a beta of 1.14.
Institutional Trading of CION Investment
Several hedge funds and other institutional investors have recently bought and sold shares of CION. BNP Paribas Financial Markets bought a new stake in CION Investment in the third quarter worth about $37,000. RFG Advisory LLC bought a new position in shares of CION Investment during the second quarter valued at approximately $64,000. Empowered Funds LLC bought a new position in shares of CION Investment during the second quarter valued at approximately $67,000. OneDigital Investment Advisors LLC purchased a new stake in shares of CION Investment in the second quarter worth approximately $73,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of CION Investment by 21.7% in the second quarter. Geneos Wealth Management Inc. now owns 8,802 shares of the company’s stock worth $84,000 after buying an additional 1,571 shares during the period. Hedge funds and other institutional investors own 32.01% of the company’s stock.
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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