Beck Capital Management LLC Purchases 1,797 Shares of CION Investment Co. (NYSE:CION)

Beck Capital Management LLC increased its position in shares of CION Investment Co. (NYSE:CION) by 6.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,511 shares of the company’s stock after acquiring an additional 1,797 shares during the period. Beck Capital Management LLC’s holdings in CION Investment were worth $351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in shares of CION Investment during the first quarter worth about $37,000. Quantbot Technologies LP bought a new position in shares of CION Investment during the third quarter valued at $104,000. Focused Wealth Management Inc acquired a new position in shares of CION Investment during the third quarter worth $120,000. First Heartland Consultants Inc. acquired a new position in shares of CION Investment during the second quarter worth $145,000. Finally, Fullcircle Wealth LLC bought a new stake in shares of CION Investment in the second quarter worth $156,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

CION Investment Stock Performance

NYSE:CION opened at $11.75 on Monday. CION Investment Co. has a 52 week low of $10.52 and a 52 week high of $12.69. The firm’s fifty day moving average is $11.75 and its 200-day moving average is $12.02. The firm has a market cap of $626.11 million, a P/E ratio of 7.99 and a beta of 1.18.

CION Investment Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 12.26%. CION Investment’s payout ratio is currently 97.96%.

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.