Concurrent Investment Advisors LLC Buys 1,093 Shares of CION Investment Co. (NYSE:CION)

Concurrent Investment Advisors LLC grew its holdings in CION Investment Co. (NYSE:CION) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 42,822 shares of the company’s stock after acquiring an additional 1,093 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in CION Investment were worth $488,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Van ECK Associates Corp boosted its holdings in CION Investment by 1.7% in the fourth quarter. Van ECK Associates Corp now owns 1,329,799 shares of the company’s stock worth $15,160,000 after acquiring an additional 21,825 shares in the last quarter. Private Advisor Group LLC boosted its holdings in CION Investment by 2.5% in the fourth quarter. Private Advisor Group LLC now owns 667,922 shares of the company’s stock worth $7,614,000 after acquiring an additional 16,417 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in CION Investment by 14.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 504,411 shares of the company’s stock worth $5,750,000 after acquiring an additional 62,365 shares in the last quarter. Franklin Resources Inc. boosted its holdings in CION Investment by 13.6% in the third quarter. Franklin Resources Inc. now owns 358,956 shares of the company’s stock worth $4,261,000 after acquiring an additional 43,076 shares in the last quarter. Finally, Sigma Planning Corp raised its stake in shares of CION Investment by 3.6% in the third quarter. Sigma Planning Corp now owns 306,660 shares of the company’s stock worth $3,649,000 after purchasing an additional 10,711 shares during the last quarter. Institutional investors and hedge funds own 32.01% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company reduced their price objective on CION Investment from $12.00 to $11.50 and set an “equal weight” rating for the company in a research note on Tuesday, October 29th.

CION Investment Stock Down 1.4 %

Shares of NYSE:CION opened at $12.30 on Tuesday. CION Investment Co. has a 52-week low of $10.52 and a 52-week high of $12.69. The stock has a market cap of $655.63 million, a price-to-earnings ratio of 8.37 and a beta of 1.13. The business has a 50-day moving average price of $11.59 and a 200-day moving average price of $11.73.

CION Investment Announces Dividend

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

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.