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

Y Intercept Hong Kong Ltd reduced its holdings in shares of CION Investment Co. (NYSE:CION) by 42.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Acadian Asset Management LLC boosted its holdings in shares of CION Investment by 32.5% in the second 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 period. Diversify Wealth Management LLC bought a new position in CION Investment in the 2nd quarter worth about $2,250,000. International Assets Investment Management LLC grew its holdings in CION Investment by 1,090.0% during the 3rd 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 in the last quarter. Van ECK Associates Corp increased its position in shares of CION Investment by 15.7% during the second quarter. Van ECK Associates Corp now owns 1,237,366 shares of the company’s stock valued at $14,996,000 after buying an additional 167,567 shares during the period. Finally, Strong Tower Advisory Services lifted its holdings in shares of CION Investment by 1,469.2% in the third quarter. Strong Tower Advisory Services now owns 196,199 shares of the company’s stock worth $2,335,000 after buying an additional 183,696 shares in the last quarter. 32.01% of the stock is owned by institutional investors.

CION Investment Trading Down 0.4 %

Shares of NYSE CION opened at $11.75 on Wednesday. The business has a 50-day moving average of $11.69 and a 200-day moving average of $11.94. The firm has a market capitalization of $626.11 million, a price-to-earnings ratio of 7.99 and a beta of 1.14. CION Investment Co. has a 12 month low of $10.52 and a 12 month high of $12.69.

CION Investment Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of CION Investment from $12.00 to $11.50 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Oppenheimer began coverage on shares of CION Investment in a report on Tuesday, October 8th. They issued a “market perform” rating and a $13.00 price target on the stock.

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.