CION Investment Co. (NYSE:CION) Short Interest Down 56.7% in July

CION Investment Co. (NYSE:CION) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 32,400 shares, a decrease of 56.7% from the June 30th total of 74,900 shares. Based on an average trading volume of 202,600 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

CION Investment Price Performance

NYSE CION traded up $0.06 on Friday, reaching $12.30. The company had a trading volume of 96,867 shares, compared to its average volume of 129,736. The firm has a market cap of $659.16 million, a price-to-earnings ratio of 5.04 and a beta of 1.19. CION Investment has a fifty-two week low of $9.65 and a fifty-two week high of $12.69. The business has a 50 day moving average of $12.29 and a two-hundred day moving average of $11.57.

CION Investment (NYSE:CION) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.60 earnings per share for the quarter. The business had revenue of $73.55 million during the quarter. CION Investment had a return on equity of 12.53% and a net margin of 51.16%.

CION Investment Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Friday, July 12th. Investors of record on Friday, June 28th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a yield of 12%. CION Investment’s payout ratio is 59.02%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company increased their price target on CION Investment from $11.50 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th.

Insider Activity

In other news, insider Gregg A. Bresner purchased 2,000 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was bought at an average cost of $12.51 per share, for a total transaction of $25,020.00. Following the purchase, the insider now owns 52,099 shares of the company’s stock, valued at $651,758.49. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 3,210 shares of company stock worth $39,983. Insiders own 0.05% of the company’s stock.

Institutional Trading of CION Investment

Large investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its holdings in CION Investment by 42.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 295,387 shares of the company’s stock worth $3,249,000 after acquiring an additional 87,382 shares during the period. Van ECK Associates Corp grew its holdings in CION Investment by 7.6% during the 1st quarter. Van ECK Associates Corp now owns 1,069,799 shares of the company’s stock worth $11,768,000 after acquiring an additional 75,859 shares during the period. HighPoint Advisor Group LLC acquired a new stake in CION Investment during the 4th quarter worth about $1,680,000. Great Valley Advisor Group Inc. grew its holdings in CION Investment by 51.4% during the 4th quarter. Great Valley Advisor Group Inc. now owns 20,633 shares of the company’s stock worth $233,000 after acquiring an additional 7,003 shares during the period. Finally, Quadrature Capital Ltd grew its holdings in CION Investment by 92.7% during the 4th quarter. Quadrature Capital Ltd now owns 117,710 shares of the company’s stock worth $1,332,000 after acquiring an additional 56,624 shares during the period. 32.01% of the stock is currently owned by institutional investors and hedge funds.

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.