Y Intercept Hong Kong Ltd Sells 17,643 Shares of CION Investment Co. (NYSE:CION)

Y Intercept Hong Kong Ltd decreased its position in CION Investment Co. (NYSE:CION) by 42.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,922 shares of the company’s stock after selling 17,643 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in CION Investment were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC lifted its holdings in shares of 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 acquiring an additional 170,635 shares during the last quarter. Diversify Wealth Management LLC purchased a new position in CION Investment in the 2nd quarter worth $2,250,000. International Assets Investment Management LLC grew its stake 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 valued at $103,660,000 after buying an additional 797,880 shares during the last quarter. Van ECK Associates Corp lifted its position in CION Investment by 15.7% in the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock valued at $14,996,000 after purchasing an additional 167,567 shares during the last quarter. Finally, Strong Tower Advisory Services grew its holdings in CION Investment by 1,469.2% in the 3rd quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after acquiring an additional 183,696 shares during the last quarter. Hedge funds and other institutional investors own 32.01% of the company’s stock.

CION Investment Stock Down 0.4 %

NYSE:CION opened at $11.75 on Wednesday. CION Investment Co. has a twelve month low of $10.52 and a twelve month high of $12.69. The stock has a market cap of $626.11 million, a P/E ratio of 7.99 and a beta of 1.14. The firm’s fifty day simple moving average is $11.69 and its 200 day simple moving average is $11.94.

CION Investment Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 12.26%. The ex-dividend date of this dividend was Monday, December 2nd. CION Investment’s dividend payout ratio is currently 97.96%.

Analyst Ratings Changes

Several equities analysts have recently commented on CION shares. Wells Fargo & Company lowered 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 note on Tuesday, October 29th. Oppenheimer began coverage on CION Investment in a research report on Tuesday, October 8th. They set a “market perform” rating and a $13.00 price target 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.