CION Investment (NYSE:CION) shares are trading higher after the company announced expansion of its share repurchase policy by 20% to up to $60 million.
Additionally, CION will enter into a trading plan to facilitate repurchases under the Policy during its first available trading window after the final one-third of CION's common stock becomes available for trading on the NYSE on July 5, 2022.
Mark Gatto, co-Chief Executive Officer, said "We believe that our solid balance sheet, strong credit quality, and prudent investment strategy has positioned our portfolio well to minimize the effect of current market volatility and take advantage of new investment opportunities.”
CION Investment Corporation is a leading publicly listed business development company that had approximately $1.8 billion in assets as of March 31, 2022.
CION Price Action: CION Investment Corporation has traded between $15.09 and $7.85 over a 52-week period.
The stock was trading about 9.4% higher at $8.96 per share on Monday at the time of publication.
