GPS Wealth Strategies Group LLC Buys 1,901 Shares of CION Investment Co. (NYSE:CION)

GPS Wealth Strategies Group LLC boosted its stake in CION Investment Co. (NYSE:CION) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,893 shares of the company’s stock after purchasing an additional 1,901 shares during the quarter. GPS Wealth Strategies Group LLC owned approximately 0.07% of CION Investment worth $459,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Tidemark LLC purchased a new position in shares of CION Investment during the 4th quarter valued at $26,000. YHB Investment Advisors Inc. purchased a new stake in shares of CION Investment in the 1st quarter valued at about $27,000. Lazard Asset Management LLC bought a new stake in shares of CION Investment during the 1st quarter valued at about $37,000. Creekmur Asset Management LLC purchased a new position in shares of CION Investment during the fourth quarter worth about $42,000. Finally, LSV Asset Management bought a new position in shares of CION Investment in the fourth quarter worth approximately $66,000. Institutional investors own 32.01% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at CION Investment

In related news, insider Gregg A. Bresner purchased 2,000 shares of CION Investment stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $12.51 per share, for a total transaction of $25,020.00. Following the completion of the transaction, the insider now directly owns 52,099 shares in the company, valued at approximately $651,758.49. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders bought a total of 4,253 shares of company stock worth $52,252 in the last three months. 0.05% of the stock is currently owned by company insiders.

CION Investment Trading Up 0.2 %

NYSE:CION traded up $0.03 during mid-day trading on Thursday, reaching $12.09. The company’s stock had a trading volume of 39,815 shares, compared to its average volume of 246,736. The stock has a market cap of $647.89 million, a P/E ratio of 4.94 and a beta of 1.19. The firm’s fifty day moving average price is $12.17 and its two-hundred day moving average price is $11.64. CION Investment Co. has a 12-month low of $9.65 and a 12-month high of $12.69.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.44 annualized dividend and a yield of 11.91%. CION Investment’s payout ratio is 59.02%.

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.