Kingsview Wealth Management LLC Has $332,000 Stake in CION Investment Co. (NYSE:CION)

Kingsview Wealth Management LLC lifted its position in shares of CION Investment Co. (NYSE:CION) by 19.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,910 shares of the company’s stock after purchasing an additional 4,615 shares during the quarter. Kingsview Wealth Management LLC’s holdings in CION Investment were worth $332,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new position in shares of CION Investment during the 1st quarter valued at $37,000. Focused Wealth Management Inc acquired a new position in shares of CION Investment during the third quarter worth approximately $120,000. First Heartland Consultants Inc. bought a new position in shares of CION Investment in the 2nd quarter worth $145,000. Fullcircle Wealth LLC acquired a new stake in CION Investment in the 2nd quarter valued at $156,000. Finally, Marshall Wace LLP acquired a new position in shares of CION Investment during the second quarter valued at about $164,000. 32.01% of the stock is owned by institutional investors.

CION Investment Stock Performance

Shares of NYSE:CION opened at $11.75 on Friday. The company has a market capitalization of $626.16 million, a P/E ratio of 7.99 and a beta of 1.18. CION Investment Co. has a fifty-two week low of $10.52 and a fifty-two week high of $12.69. The company’s 50-day moving average is $11.75 and its 200 day moving average is $12.02.

CION Investment Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CION shares. Oppenheimer assumed coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 target price on the stock. Wells Fargo & Company reduced their price objective on shares of 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.

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.