CION Investment (NYSE:CION) Reaches New 1-Year High – Time to Buy?

CION Investment Co. (NYSE:CION)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $12.71 and last traded at $12.63, with a volume of 13235 shares changing hands. The stock had previously closed at $12.54.

CION Investment Stock Performance

The company’s 50-day moving average is $11.68 and its 200-day moving average is $11.75. The firm has a market cap of $651.37 million, a price-to-earnings ratio of 8.32 and a beta of 1.13.

CION Investment Dividend Announcement

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

Institutional Trading of CION Investment

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new position in CION Investment during the 4th quarter worth $55,000. Golden State Wealth Management LLC acquired a new position in shares of CION Investment during the fourth quarter valued at $96,000. Aquatic Capital Management LLC bought a new position in CION Investment in the fourth quarter valued at about $103,000. Quantbot Technologies LP acquired a new stake in CION Investment in the third quarter worth about $104,000. Finally, Focused Wealth Management Inc bought a new stake in CION Investment during the 3rd quarter worth about $120,000. Institutional investors and hedge funds own 32.01% of the company’s stock.

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.