CION Investment Co. (NYSE:CION) Shares Bought by Arkadios Wealth Advisors

Arkadios Wealth Advisors grew its holdings in shares of CION Investment Co. (NYSE:CION – Get Rating) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 306,240 shares of the company’s stock after acquiring an additional 12,662 shares during the period. Arkadios Wealth Advisors owned about 0.55% of CION Investment worth $2,986,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CION. Gradient Investments LLC grew its stake in shares of CION Investment by 221.4% during the third quarter. Gradient Investments LLC now owns 3,066 shares of the company’s stock valued at $26,000 after acquiring an additional 2,112 shares in the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of CION Investment during the second quarter valued at about $27,000. Allworth Financial LP grew its stake in CION Investment by 50.0% in the third quarter. Allworth Financial LP now owns 3,688 shares of the company’s stock worth $31,000 after purchasing an additional 1,229 shares in the last quarter. Almitas Capital LLC acquired a new position in CION Investment in the third quarter worth about $34,000. Finally, Joseph Group Capital Management acquired a new position in CION Investment in the third quarter worth about $36,000. 27.22% of the stock is currently owned by institutional investors and hedge funds.

CION Investment Price Performance

NYSE:CION traded down $0.56 during mid-day trading on Friday, reaching $9.54. The stock had a trading volume of 703,828 shares, compared to its average volume of 176,547. The company has a market capitalization of $528.80 million, a price-to-earnings ratio of 9.54 and a beta of 1.46. CION Investment Co. has a 1-year low of $7.83 and a 1-year high of $15.09. The stock’s 50 day simple moving average is $10.68 and its two-hundred day simple moving average is $10.03.

CION Investment Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 24th will be paid a $0.34 dividend. The ex-dividend date is Thursday, March 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 14.26%. CION Investment’s dividend payout ratio (DPR) is 124.00%.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company decreased their price target on CION Investment from $11.00 to $10.50 and set an “overweight” rating for the company in a research note on Friday.

About CION Investment

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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.