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CION Investment Corporation (CION)

Financial Services | Asset Management | New York, United States | NYSE
6.59 USD -0.25 (-3.655%) ⇩ (Oct. 16, 2026, 4 p.m. EDT)
After hours: 6.59

Short-term:★★☆☆☆Long-term:★⯪☆☆☆Dividends:★★⯪☆☆
Hot Take ↕ | Oct. 10, 2026, 1:54 a.m. EDT

The investment case here is fractured by a severe disconnect between the headline yield and the underlying business reality. While the 17.24% dividend yield looks attractive on paper, the company is trading at less than half its book value (0.51 P/B) with a massive debt load relative to equity, signaling deep distress rather than a simple value opportunity. The recent news of a downgrade and plunging stock price following an earnings miss confirms that the market views this as a deteriorating asset. The price trajectory over the last four years shows a net decline of roughly 23%, with the most recent annual period also negative, suggesting the market has already priced in significant structural issues. The options market reinforces this bearish view, with traders buying insurance against further drops rather than betting on a recovery. Despite the high payout, the sustainability is questionable given the weak return on equity and the company's need to raise new debt. This is a speculative play on a distressed entity, not a stable income investment.

Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoTheta ✓0.053969
AutoETS0.069824
AutoARIMA0.072809
MSTL0.094282

Forecast horizon: 45 days | Selected: AutoTheta

Forecast Reliability
Score 45%
H-stat 4.64
Ljung-Box p 0.000
Jarque-Bera p 0.084
Excess Kurtosis 0.77
Attribute Value
Sector Financial Services
Ex Dividend Date 2026-11-12
Last Dividend Date 2026-10-15
Debt to Equity Ratio 173.702
Revenue per Share 4.543
Market Cap 324,245,824
Trailing P/E 94.14
Forward P/E 5.76
Beta 1.13
Profit Margins 1.17%
Website https://www.cionbdc.com

As of Oct. 10, 2026, 1:54 a.m. EDT: Speculators are aggressively positioning for downside protection, evidenced by heavy put volume and open interest at the $5.00 strike compared to negligible call activity. Implied volatility is significantly elevated for puts (1.48%) versus calls (0.63%), indicating a fear premium. While some ATM call flow exists, the overwhelming capital allocation is on the left side of the distribution, suggesting a consensus expectation of further price weakness.


Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
1.52% 17.73% 15.59% —
Dividend History
Date Dividend Yield %
2026-10-16 0.10 1.517451
2026-09-11 0.10 1.392758
2026-08-14 0.10 1.345895
2026-07-17 0.10 1.636661
2026-06-12 0.10 1.432665
2026-05-15 0.10 1.485884
2026-04-10 0.10 1.445087
2026-03-13 0.10 1.526718
2026-02-13 0.10 1.157407
2026-01-16 0.10 1.058201
2025-12-01 0.36 3.730570
2025-09-02 0.36 3.491755
2025-06-02 0.36 3.938731
2025-03-28 0.36 3.444976
2024-12-30 0.05 0.444444
2024-12-02 0.36 3.166227
2024-09-03 0.36 3.037975
2024-06-28 0.05 0.412541
2024-06-03 0.36 2.943581
2024-03-21 0.34 3.192488
2023-12-28 0.05 0.437063
2023-12-21 0.15 1.312336
2023-11-30 0.34 3.213611
2023-09-28 0.05 0.474383
2023-08-31 0.34 3.171642
2023-05-31 0.34 3.594080
2023-03-23 0.34 3.563941
2022-12-29 0.27 2.769231
2022-11-30 0.31 3.069307
2022-08-31 0.31 3.212435
2022-05-31 0.28 2.547771
2022-03-22 0.28 1.998572
2021-12-15 0.20 1.602564
2021-11-30 0.26 1.823282
Additional Data
dividendRate 1.2
dividendYield 18.21
exDividendDate 2026-11-13
trailingAnnualDividendRate 1.32
trailingAnnualDividendYield 0.19298247
lastDividendValue 0.1
lastDividendDate 2026-10-16
dividendDate 2026-12-28

Info Dump

Attribute Value
52 Week Change -0.29215896
Address1 100 Park Avenue
Address2 25th Floor
All Time High 15.09
All Time Low 5.83
Ask 6.94
Ask Size 800
Average Daily Volume10 Day 263,360
Average Daily Volume3 Month 426,632
Average Volume 426,632
Average Volume10Days 263,360
Beta 1.125
Bid 6.59
Bid Size 1,100
Book Value 13.572
City New York
Country United States
Crypto Tradeable 0
Currency USD
Current Price 6.59
Current Ratio 2.456
Custom Price Alert Confidence HIGH
Date Short Interest 1,790,726,400
Day High 6.81
Day Low 6.5696
Debt To Equity 173.702
Display Name CION Investment
Dividend Date 1,798,416,000
Dividend Rate 1.2
Dividend Yield 18.21
Earnings Call Timestamp End 1,746,716,400
Earnings Call Timestamp Start 1,746,716,400
Earnings Growth 0.202
Earnings Quarterly Growth 0.134
Earnings Timestamp End 1,754,915,400
Earnings Timestamp Start 1,754,483,400
Ebitda Margins 0.0
Enterprise To Revenue 6.369
Enterprise Value 1,476,522,880
Eps Current Year 1.13
Eps Forward 1.145
Eps Trailing Twelve Months 0.07
Esg Populated 0
Ex Dividend Date 1,794,528,000
Exchange NYQ
Exchange Data Delayed By 20
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fax 212-418-4739
Fifty Day Average 7.2
Fifty Day Average Change -0.60999966
Fifty Day Average Change Percent -0.084722176
Fifty Two Week Change Percent -29.215897
Fifty Two Week High 10.4
Fifty Two Week High Change -3.8099995
Fifty Two Week High Change Percent -0.36634612
Fifty Two Week Low 5.83
Fifty Two Week Low Change 0.7600002
Fifty Two Week Low Change Percent 0.13036025
Fifty Two Week Range 5.83 - 10.4
Financial Currency USD
First Trade Date Milliseconds 1,633,440,600,000
Five Year Avg Dividend Yield 9.4
Forward Eps 1.145
Forward P E 5.755459
Free Cashflow 69,518,248
Full Exchange Name NYSE
Fullday Change -0.25
Fullday Change Percent -3.6549706
Fullday Price 6.59
Gmt Off Set Milliseconds -14,400,000
Gross Margins 1.0
Gross Profits 231,832,992
Has Pre Post Market Data 1
Held Percent Insiders 0.0077899997
Held Percent Institutions 0.33799
Implied Shares Outstanding 49,202,704
Industry Asset Management
Industry Disp Asset Management
Industry Key asset-management
Is Earnings Date Estimate 1
Language en-US
Last Dividend Date 1,792,108,800
Last Dividend Value 0.1
Last Fiscal Year End 1,767,139,200
Long Business Summary 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. The firm invests in growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing and recapitalization investments. The fund also invests up to 30 percent of their assets opportunistically in other types of investments, including the securities of larger public companies and foreign securities. It also makes investments in the secondary loan market. The fund does not invest in start-up companies, turnaround situations, or companies with speculative business plans. The fund prefers to invest in high tech industries, healthcare, pharmaceuticals, business services, media, chemicals, plastic, rubber, telecommunication, consumer services, advertising, printing and publishing, consumer goods, durables, diversified financials, and other industries. It also invests in homebuilding, restaurants, beverage and tobacco bars, broadcasting, distributors, Non-durable good distribution, food beverage and tobacco, energy, oil gas and consumables fuels, insurance, aerospace and defense, industrial machinery, paper and forest product machinery, information technology, metals and mining, and real estate. It primarily seeks to invest in the United States. The fund seeks to invest between $5 million and $50 million in companies with an EBITDA between $25 million and $75 million with average targeted hold of $30 million. It also purchases minority interests in the form of common or preferred equity in the target companies, typically in conjunction with its debt investments or through a co-investment with a financial sponsor. The fund seeks to exit its investments through an initial public offering of common stock, a merger, a sale, or other recapitalization.
Long Name CION Investment Corporation
Market us_market
Market Cap 324,245,824
Market State CLOSED
Max Age 86,400
Message Board Id finmb_144979041
Most Recent Quarter 1,782,777,600
Net Income To Common 2,707,000
Next Fiscal Year End 1,798,675,200
Non Diluted Market Cap 353,275,414
Number Of Analyst Opinions 2
Open 6.88
Operating Cashflow 44,324,000
Operating Margins 0.76335996
Payout Ratio 18.8571
Phone 212-418-4700
Post Market Change 0.0
Post Market Change Percent 0.0
Post Market Price 6.59
Post Market Time 1,792,180,828
Previous Close 6.84
Price Eps Current Year 5.8318586
Price Hint 2
Price To Book 0.48555854
Price To Sales Trailing12 Months 1.3986181
Profit Margins 0.0116799995
Quick Ratio 2.31
Quote Source Name Nasdaq Real Time Price
Quote Type EQUITY
Recommendation Key none
Region US
Regular Market Change -0.25
Regular Market Change Percent -3.65497
Regular Market Day High 6.81
Regular Market Day Low 6.5696
Regular Market Day Range 6.5696 - 6.81
Regular Market Open 6.88
Regular Market Previous Close 6.84
Regular Market Price 6.59
Regular Market Time 1,792,180,802
Regular Market Volume 348,538
Return On Assets 0.059369996
Return On Equity 0.0038
Revenue Growth -0.047
Revenue Per Share 4.543
Sand P52 Week Change 0.13723719
Sector Financial Services
Sector Disp Financial Services
Sector Key financial-services
Shares Outstanding 49,202,704
Shares Percent Shares Out 0.0388
Shares Short 1,910,199
Shares Short Previous Month Date 1,788,134,400
Shares Short Prior Month 1,927,554
Short Name CION Investment Corporation
Short Percent Of Float 0.039100002
Short Ratio 5.6
Source Interval 15
State NY
Symbol CION
Target High Price 9.0
Target Low Price 8.5
Target Mean Price 8.75
Target Median Price 8.75
Total Cash 7,664,000
Total Cash Per Share 0.156
Total Debt 1,159,940,992
Total Revenue 231,832,992
Tradeable 0
Trailing Annual Dividend Rate 1.32
Trailing Annual Dividend Yield 0.19298247
Trailing Eps 0.07
Trailing P E 94.14286
Trailing Peg Ratio None
Triggerable 1
Two Hundred Day Average 7.3906
Two Hundred Day Average Change -0.80060005
Two Hundred Day Average Change Percent -0.1083268
Type Disp Equity
Volume 348,538
Website https://www.cionbdc.com
Zip 10,017