Creative Planning Decreases Stock Position in CION Investment Co. (NYSE:CION)

Creative Planning lessened its stake in CION Investment Co. (NYSE:CION) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,835 shares of the company’s stock after selling 986 shares during the quarter. Creative Planning’s holdings in CION Investment were worth $165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC increased its holdings in shares of CION Investment by 32.5% in the second quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock valued at $8,427,000 after purchasing an additional 170,635 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of CION Investment by 2,340.1% in the first quarter. Cetera Investment Advisers now owns 524,131 shares of the company’s stock valued at $5,765,000 after purchasing an additional 502,651 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of CION Investment in the second quarter valued at approximately $2,250,000. Van ECK Associates Corp increased its stake in CION Investment by 15.7% during the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock worth $14,996,000 after acquiring an additional 167,567 shares during the last quarter. Finally, Strong Tower Advisory Services increased its stake in CION Investment by 1,469.2% during the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after acquiring an additional 183,696 shares during the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

CION Investment Trading Up 0.3 %

Shares of NYSE CION opened at $11.54 on Tuesday. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The stock has a fifty day simple moving average of $11.83 and a 200-day simple moving average of $12.03. The stock has a market capitalization of $616.81 million, a PE ratio of 7.89 and a beta of 1.18.

CION Investment Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 12.13%. CION Investment’s payout ratio is presently 97.96%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CION. Wells Fargo & Company cut their target price on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th. Oppenheimer began coverage on CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price for the company.

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.