CION Investment Co. (NYSE:CION) Holdings Lowered by Brookstone Capital Management

Brookstone Capital Management lessened its stake in shares of CION Investment Co. (NYSE:CION) by 12.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,590 shares of the company’s stock after selling 2,362 shares during the period. Brookstone Capital Management’s holdings in CION Investment were worth $189,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CION. Quantbot Technologies LP purchased a new position in CION Investment during the third quarter valued at approximately $104,000. Focused Wealth Management Inc acquired a new position in CION Investment in the 3rd quarter valued at $120,000. Legacy Investment Solutions LLC bought a new stake in CION Investment during the 3rd quarter valued at approximately $124,000. Virtu Financial LLC acquired a new position in CION Investment during the 3rd quarter valued at $127,000. Finally, Jane Street Group LLC bought a new position in CION Investment during the third quarter valued at about $161,000. 32.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

CION Investment Stock Performance

CION stock opened at $11.42 on Monday. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69. The company’s 50-day simple moving average is $11.47 and its 200 day simple moving average is $11.81. The company has a market capitalization of $608.31 million, a PE ratio of 7.77 and a beta of 1.13.

CION Investment Announces Dividend

The company also recently announced an annual dividend, which will be paid on Monday, January 27th. Shareholders of record on Monday, December 30th will be given a $0.05 dividend. The ex-dividend date is Monday, December 30th. This represents a yield of 0.43%. CION Investment’s dividend payout ratio is presently 97.96%.

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.