CION Investment Co. (NYSE:CION) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its position in shares of CION Investment Co. (NYSE:CION) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,945 shares of the company’s stock after selling 2,091 shares during the quarter. Stifel Financial Corp owned 0.06% of CION Investment worth $380,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Concurrent Investment Advisors LLC increased its holdings in CION Investment by 2.9% in the 3rd 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 in the last quarter. Endowment Wealth Management Inc. boosted its stake in shares of CION Investment by 2.3% in the second quarter. Endowment Wealth Management Inc. now owns 56,841 shares of the company’s stock worth $689,000 after acquiring an additional 1,253 shares during the last quarter. Beck Capital Management LLC boosted its stake in shares of CION Investment by 6.5% in the third quarter. Beck Capital Management LLC now owns 29,511 shares of the company’s stock worth $351,000 after acquiring an additional 1,797 shares during the last quarter. Townsquare Capital LLC raised its stake in CION Investment by 7.0% in the 3rd quarter. Townsquare Capital LLC now owns 31,438 shares of the company’s stock valued at $374,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Acorn Financial Advisory Services Inc. ADV lifted its holdings 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 valued at $3,015,000 after purchasing an additional 2,267 shares in the last quarter. 32.01% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Trading Down 1.0 %

Shares of CION stock opened at $11.39 on Friday. The stock has a market cap of $606.93 million, a price-to-earnings ratio of 7.75 and a beta of 1.14. The company’s 50-day moving average price is $11.63 and its 200-day moving average price is $11.91. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69.

CION Investment Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CION. Wells Fargo & Company dropped their target price 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. Oppenheimer began coverage on shares of CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price objective for the company.

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.