CION Investment Corporation (CION) to Issue Monthly Dividend of $0.10 on November 27th

CION Investment Corporation (NYSE:CION) announced a monthly dividend on Monday, August 3rd. Shareholders of record on Friday, November 13th will be given a dividend of $0.10 per share on Friday, November 27th. This represents a $1.20 dividend on an annualized basis and a yield of 18.9%. The ex-dividend date of this dividend is Friday, November 13th.

CION Investment has a dividend payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect CION Investment to earn $1.00 per share next year, which means the company may not be able to cover its $1.20 annual dividend with an expected future payout ratio of 120.0%.

CION Investment Stock Performance

NYSE CION opened at $6.37 on Wednesday. The business’s 50 day moving average price is $6.93 and its 200-day moving average price is $7.16. CION Investment has a fifty-two week low of $5.83 and a fifty-two week high of $10.40. The company has a market cap of $313.16 million, a P/E ratio of -9.09 and a beta of 1.14.

Institutional Investors Weigh In On CION Investment

Several institutional investors have recently bought and sold shares of CION. Private Advisor Group LLC raised its holdings in shares of CION Investment by 1,694.8% during the third quarter. Private Advisor Group LLC now owns 1,127,559 shares of the company’s stock worth $7,915,000 after purchasing an additional 1,064,736 shares during the last quarter. Focus Advisor Solutions LLC raised its holdings in CION Investment by 8.7% in the 3rd quarter. Focus Advisor Solutions LLC now owns 20,906 shares of the company’s stock worth $147,000 after purchasing an additional 1,677 shares during the period. Silver Oak Securities Incorporated lifted its position in shares of CION Investment by 29.5% during the 3rd quarter. Silver Oak Securities Incorporated now owns 27,153 shares of the company’s stock valued at $191,000 after buying an additional 6,180 shares in the last quarter. Endowment Wealth Management Inc. lifted its stake in CION Investment by 3.2% in the 3rd quarter. Endowment Wealth Management Inc. now owns 70,690 shares of the company’s stock valued at $496,000 after buying an additional 2,187 shares in the last quarter. Finally, SMH Capital Advisors Inc. acquired a new stake in shares of CION Investment in the third quarter worth approximately $102,000. 32.01% of the stock is currently owned by institutional investors and hedge funds.

About CION Investment

CION Investment Corporation (NYSE:CION) is a closed-end, externally managed business development company (BDC) that provides financing to privately owned, middle-market companies. The company primarily seeks to generate current income and, to a lesser extent, capital appreciation by investing in the debt and equity securities of eligible businesses. CION’s investment portfolio generally includes senior secured loans, subordinated debt, unitranche investments and, in select cases, equity or equity-related securities.