CTAs are almost max long in equities, have very limited room to buy: UBS
In a notable performance, CION Investment Corporation’s stock has reached a 52-week high, trading at $12.67, with InvestingPro data showing an impressive 12.28% dividend yield and a market capitalization of $668 million. This peak reflects a significant uptrend for the company, which has actually delivered a remarkable 32.76% total return over the past year. Investors have shown increased confidence in CION’s strategic initiatives and market position, propelling the stock to this new high. The company maintains a conservative P/E ratio of 8.04 and boasts a "Great" Financial Health Score of 3.25 according to InvestingPro analysis. The 52-week milestone underscores the company’s strong financial health and the positive sentiment surrounding its growth prospects in the investment sector. For deeper insights into CION’s valuation and growth potential, access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, CION Investment Corporation has secured a new $125 million credit facility with UBS AG, London Branch, replacing its previous senior secured repurchase agreement. This new facility offers more favorable economic terms, with a reduced credit spread on the floating interest rate, now set at SOFR plus 2.75% per annum, down from 3.20%. In a separate development, CION, in collaboration with GCM Grosvenor, launched the CION Grosvenor Infrastructure Fund, which debuts with a $240 million portfolio and an additional $82 million in committed capital. This fund provides individual investors access to GCM Grosvenor’s institutional private infrastructure investments. Furthermore, CION has extended its repurchase agreement with UBS AG, extending the expiration date from January 15, 2025, to February 14, 2025. This extension is part of ongoing negotiations for a broader amendment of the UBS facility. These recent developments reflect CION’s strategic financial maneuvers and its efforts to enhance investment opportunities for its stakeholders.
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