GSA Capital Partners LLP Reduces Position in CION Investment Co. (NYSE:CION)

GSA Capital Partners LLP lowered its position in CION Investment Co. (NYSE:CION) by 20.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,856 shares of the company’s stock after selling 5,042 shares during the period. GSA Capital Partners LLP’s holdings in CION Investment were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Harbour Investments Inc. grew its position in CION Investment by 17.3% in the 3rd quarter. Harbour Investments Inc. now owns 18,149 shares of the company’s stock valued at $216,000 after acquiring an additional 2,679 shares during the last quarter. Apollon Wealth Management LLC increased its stake in CION Investment by 81.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 45,687 shares of the company’s stock worth $544,000 after buying an additional 20,498 shares during the period. Sigma Planning Corp lifted its holdings in CION Investment by 3.6% during the 3rd quarter. Sigma Planning Corp now owns 306,660 shares of the company’s stock valued at $3,649,000 after buying an additional 10,711 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV grew its stake in CION Investment by 0.9% in the 3rd quarter. Acorn Financial Advisory Services Inc. ADV now owns 253,353 shares of the company’s stock worth $3,015,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of CION Investment by 2.9% during the third quarter. Concurrent Investment Advisors LLC now owns 41,729 shares of the company’s stock worth $497,000 after acquiring an additional 1,190 shares during the period. Institutional investors own 32.01% of the company’s stock.

CION Investment Trading Up 1.4 %

Shares of NYSE:CION opened at $11.70 on Monday. The company has a market capitalization of $623.45 million, a PE ratio of 7.96 and a beta of 1.18. CION Investment Co. has a 12-month low of $10.52 and a 12-month high of $12.69. The business’s fifty day simple moving average is $11.77 and its 200-day simple moving average is $12.03.

CION Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 12.31%. The ex-dividend date is Monday, December 2nd. CION Investment’s payout ratio is 97.96%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CION shares. Oppenheimer assumed coverage on CION Investment in a research note on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a report on Tuesday, October 29th.

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.