Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Declares $0.06 Monthly Dividend

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) declared a monthly dividend on Friday, January 2nd. Shareholders of record on Thursday, January 15th will be given a dividend of 0.06 per share by the investment management company on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 11.9%. The ex-dividend date is Thursday, January 15th.

Madison Covered Call & Equity Strategy Fund Stock Down 0.1%

Shares of MCN opened at $6.08 on Tuesday. The company has a 50 day moving average price of $5.94 and a 200-day moving average price of $6.11. Madison Covered Call & Equity Strategy Fund has a fifty-two week low of $5.16 and a fifty-two week high of $6.73.

Institutional Investors Weigh In On Madison Covered Call & Equity Strategy Fund

A number of hedge funds have recently made changes to their positions in the stock. World Equity Group Inc. increased its position in shares of Madison Covered Call & Equity Strategy Fund by 6.8% during the fourth quarter. World Equity Group Inc. now owns 111,230 shares of the investment management company’s stock worth $667,000 after purchasing an additional 7,057 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Madison Covered Call & Equity Strategy Fund during the 3rd quarter worth $87,000. Raymond James Financial Inc. grew its stake in Madison Covered Call & Equity Strategy Fund by 4.3% during the 3rd quarter. Raymond James Financial Inc. now owns 193,822 shares of the investment management company’s stock worth $1,196,000 after buying an additional 7,916 shares during the last quarter. Wolverine Asset Management LLC increased its position in Madison Covered Call & Equity Strategy Fund by 2,049.0% during the 3rd quarter. Wolverine Asset Management LLC now owns 106,267 shares of the investment management company’s stock valued at $656,000 after buying an additional 101,322 shares in the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in Madison Covered Call & Equity Strategy Fund in the third quarter valued at about $158,000.

About Madison Covered Call & Equity Strategy Fund

Madison Covered Call & Equity Strategy Fund (NYSE: MCN) is a closed-end management investment company designed to provide investors with total return through a blend of current income and capital appreciation. Listed on the New York Stock Exchange, the Fund pursues its objective by investing primarily in equity securities of U.S. companies and employing an options overlay to enhance income generation.

The Fund’s investment approach centers on fundamental analysis to identify large- and mid-cap stocks with attractive risk/return profiles.