Orion Portfolio Solutions LLC Buys Shares of 10,048 CION Investment Co. (NYSE:CION)

Orion Portfolio Solutions LLC purchased a new position in CION Investment Co. (NYSE:CION – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 10,048 shares of the company’s stock, valued at approximately $98,000.

A number of other institutional investors also recently made changes to their positions in CION. JPMorgan Chase & Co. acquired a new stake in shares of CION Investment during the first quarter valued at approximately $733,000. Raymond James Financial Services Advisors Inc. grew its position in CION Investment by 6.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 26,571 shares of the company’s stock worth $393,000 after acquiring an additional 1,536 shares in the last quarter. BlackRock Inc. bought a new stake in CION Investment in the first quarter worth approximately $4,622,000. Symphony Financial Ltd. Co. bought a new stake in CION Investment in the first quarter worth approximately $193,000. Finally, Renaissance Technologies LLC bought a new stake in CION Investment in the first quarter worth approximately $170,000. 27.22% of the stock is owned by institutional investors and hedge funds.

CION Investment Price Performance

NYSE:CION opened at $9.25 on Monday. The stock has a market cap of $508.92 million, a P/E ratio of 48.68 and a beta of 1.34. CION Investment Co. has a one year low of $7.83 and a one year high of $11.57. The company has a fifty day moving average price of $9.70 and a 200 day moving average price of $10.15.

CION Investment Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, June 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 14.70%. The ex-dividend date of this dividend is Wednesday, May 31st. CION Investment’s dividend payout ratio (DPR) is currently 715.79%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company downgraded shares of CION Investment from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $10.50 to $9.25 in a report on Tuesday, April 18th.

CION Investment Profile

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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.