Virtu Financial LLC Invests $127,000 in CION Investment Co. (NYSE:CION)

Virtu Financial LLC acquired a new position in shares of CION Investment Co. (NYSE:CION) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,632 shares of the company’s stock, valued at approximately $127,000.

A number of other large investors have also recently bought and sold shares of CION. International Assets Investment Management LLC grew its position in shares of CION Investment by 1,090.0% during the third quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock worth $103,660,000 after acquiring an additional 797,880 shares during the last quarter. Private Advisor Group LLC grew its position in CION Investment by 674.1% in the 2nd quarter. Private Advisor Group LLC now owns 617,444 shares of the company’s stock worth $7,483,000 after purchasing an additional 537,681 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in shares of CION Investment in the second quarter valued at approximately $2,250,000. Strong Tower Advisory Services boosted its position in shares of CION Investment by 1,469.2% during the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after buying an additional 183,696 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in CION Investment by 32.5% in the 2nd quarter. Acadian Asset Management LLC now owns 695,609 shares of the company’s stock worth $8,427,000 after buying an additional 170,635 shares in the last quarter. Institutional investors own 32.01% of the company’s stock.

CION Investment Price Performance

CION opened at $11.59 on Friday. The business has a 50 day moving average price of $11.69 and a two-hundred day moving average price of $11.94. The company has a market capitalization of $617.58 million, a price-to-earnings ratio of 7.88 and a beta of 1.14. CION Investment Co. has a 1-year low of $10.52 and a 1-year high of $12.69.

CION Investment Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.36 per share. The ex-dividend date was Monday, December 2nd. This represents a $1.44 annualized dividend and a yield of 12.42%. CION Investment’s dividend payout ratio is currently 97.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CION shares. Wells Fargo & Company reduced their price target on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research 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.