The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CION Investment Corporation shares valued at $10,250 were purchased by FINLAY PETER I. on Nov 22. At $10.25 per share, FINLAY PETER I. acquired 1,000 shares. The insider’s holdings grew to 2,000 shares worth approximately $20580.0 following the completion of this transaction.
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Also, BRESNER GREGG A. purchased 3,000 shares, netting a total of over 27,510 in proceeds. Following the buying of shares at $9.17 each, the insider now holds 40,099 shares.
Before that, BRESNER GREGG A. had added 2,000 shares to its account. In a trade valued at $18,320, the President & CIO bought CION Investment Corporation shares for $9.16 each. Upon closing the transaction, the insider’s holdings increased to 2,000 shares, worth approximately $0.38 million.
As published in a research note from Wells Fargo on July 25, 2022, CION Investment Corporation [CION] has been rated up from an Equal weight to an Overweight and the price target has been revised to $9.50 from $11.50. Analysts at Wells Fargo started covering the stock with ‘”an Equal weight”‘ outlook in a report released in early November.
Analyzing CION Stock Performance
During the last five days, there has been a surge of approximately 0.68%. Over the course of the year, CION Investment Corporation shares have dropped approximately -21.27%. Shares of the company reached a 52-week high of $15.09 on 03/29/22 and a 52-week low of $7.83 on 07/14/22. A 50-day SMA is recorded $9.31, while a 200-day SMA reached $10.49.
Support And Resistance Levels for CION Investment Corporation (CION)
According to the 24-hour chart, there is a support level at 10.16, which, if violated, would cause prices to drop to 10.02. In the upper region, resistance lies at 10.45. The next price resistance is at 10.60. RSI (Relative Strength Index) is 62.09 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.17, which suggests the price will decrease in the coming days. Percent R is at 40.72%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is CION Investment Corporation subject to short interest?
Stocks of CION Investment Corporation saw a sharp steep in short interest on Oct 13, 2022 dropping by 12120.0 shares to 36330.0. Data from Yahoo Finance shows that the short interest on Sep 14, 2022 was 48450.0 shares. A decline of -33.36% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 0.15 of the overall float, the days-to-cover ratio (short ratio) decline to 0.15.
Which companies own the most shares of CION Investment Corporation (CION)?
According to Cambridge Investment Research Adv filings, the company currently owns 1,222,747 shares, which is about 2.15% of the total CION shares outstanding. The investor’s shares have appreciated by 448,945 from its previous 13-F filing of 773802.0 shares. With the completion of the buy transaction, Punch & Associates Investment Man’s stake is now worth $9,455,450. Bulldog Investors LLP acquire a 45.62% interest valued at $9.08 million while Pinkerton Retirement Specialists purchased a 261,094 stake. A total of 303,398 shares of CION Investment Corporation were bought by LPL Financial LLC during the quarter, and -13,991 were sold by Millennium Management LLC. In its current portfolio, Kestra Advisory Services LLC holds 663,814 shares valued at $6.18 million.