CION Investment Corp Reports Insider Stock Acquisition by Board Member
The filing reveals a board member’s increased stake, showcasing confidence in the firm's growth.
November 19, 2024
CION Investment Corp, a business development company listed on the NYSE under the ticker symbol CION, has reported a significant insider transaction. According to a recent SEC filing, board member Robert A. Breakstone acquired an additional 1,000 shares of common stock on November 15, 2024. The transaction was priced at $11.34 per share, resulting in a total investment of $11,340.
This purchase was executed under Mr. Breakstone’s Individual Retirement Account (IRA), bringing his total indirect beneficial ownership to approximately 13,237.77 shares. The increase reflects both direct purchases and reinvestment under the company’s dividend distribution plan, suggesting a commitment to the company's long-term performance.
CION’s stock acquisition by its director could be interpreted as a sign of confidence in the company’s financial outlook. Insiders often increase their holdings when they anticipate future growth or believe the market undervalues their company's stock.
As a key player in providing financing solutions to middle-market companies, CION Investment Corp’s strategic focus and insider support could potentially drive further interest from shareholders and investors.
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