Apollon Wealth Management LLC Acquires 7,060 Shares of CION Investment Co. (NYSE:CION)

Apollon Wealth Management LLC lifted its holdings in CION Investment Co. (NYSE:CION) by 15.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,747 shares of the company’s stock after buying an additional 7,060 shares during the period. Apollon Wealth Management LLC owned about 0.10% of CION Investment worth $601,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. grew its position 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. International Assets Investment Management LLC boosted its holdings in shares of CION Investment by 1,090.0% in the 3rd quarter. International Assets Investment Management LLC now owns 871,080 shares of the company’s stock worth $103,660,000 after purchasing an additional 797,880 shares during the period. Van ECK Associates Corp increased its position in shares of CION Investment by 5.7% during the 3rd quarter. Van ECK Associates Corp now owns 1,307,974 shares of the company’s stock valued at $15,617,000 after purchasing an additional 70,608 shares during the last quarter. Jane Street Group LLC purchased a new stake in CION Investment during the 3rd quarter valued at $161,000. Finally, Arete Wealth Advisors LLC lifted its position in CION Investment by 67.6% in the third quarter. Arete Wealth Advisors LLC now owns 28,275 shares of the company’s stock worth $337,000 after buying an additional 11,408 shares during the last quarter. 32.01% of the stock is currently owned by institutional investors.

CION Investment Price Performance

Shares of NYSE CION opened at $11.81 on Thursday. CION Investment Co. has a 1 year low of $10.52 and a 1 year high of $12.69. The firm has a 50-day simple moving average of $11.47 and a two-hundred day simple moving average of $11.71. The company has a market cap of $629.31 million, a P/E ratio of 8.03 and a beta of 1.13.

CION Investment Announces Dividend

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

Analysts Set New Price Targets

Separately, Wells Fargo & Company cut their price objective on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock 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.