Cetera Investment Advisers Reduces Position in CION Investment Co. (NYSE:CION)

Cetera Investment Advisers lowered its position in CION Investment Co. (NYSE:CION) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 438,484 shares of the company’s stock after selling 85,647 shares during the period. Cetera Investment Advisers owned approximately 0.82% of CION Investment worth $5,314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CION. YHB Investment Advisors Inc. purchased a new stake in shares of CION Investment during the first quarter valued at $27,000. Lazard Asset Management LLC bought a new position in CION Investment in the 1st quarter worth about $37,000. Creekmur Asset Management LLC purchased a new position in shares of CION Investment during the fourth quarter worth approximately $42,000. First Heartland Consultants Inc. purchased a new position in shares of CION Investment during the second quarter worth approximately $145,000. Finally, Fullcircle Wealth LLC bought a new stake in shares of CION Investment during the second quarter valued at approximately $156,000. Hedge funds and other institutional investors own 32.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Oppenheimer started coverage on CION Investment in a research note on Tuesday. They issued a “market perform” rating and a $13.00 price objective on the stock.

CION Investment Price Performance

NYSE:CION opened at $11.70 on Wednesday. The firm has a market cap of $626.99 million, a PE ratio of 4.80 and a beta of 1.18. The company has a 50-day moving average of $11.94 and a 200 day moving average of $11.90. CION Investment Co. has a 1-year low of $9.65 and a 1-year high of $12.69.

CION Investment (NYSE:CION) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter. The firm had revenue of $61.36 million during the quarter. CION Investment had a net margin of 48.50% and a return on equity of 12.39%.

CION Investment Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 12.31%. CION Investment’s dividend payout ratio is presently 59.02%.

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.