Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Sees Significant Growth in Short Interest

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 30,969 shares, a growth of 84.3% from the February 26th total of 16,800 shares. Based on an average trading volume of 59,745 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund

A number of hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter valued at $37,000. International Assets Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at $43,000. Wolverine Asset Management LLC increased its holdings in Madison Covered Call & Equity Strategy Fund by 83.3% in the 4th quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock valued at $1,169,000 after purchasing an additional 88,517 shares in the last quarter. Absolute Investment Advisers LLC raised its position in Madison Covered Call & Equity Strategy Fund by 174.0% in the fourth quarter. Absolute Investment Advisers LLC now owns 534,643 shares of the investment management company’s stock valued at $3,256,000 after purchasing an additional 339,488 shares during the period. Finally, Shaker Financial Services LLC lifted its stake in shares of Madison Covered Call & Equity Strategy Fund by 27.9% during the fourth quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock worth $4,105,000 after purchasing an additional 149,272 shares in the last quarter.

Madison Covered Call & Equity Strategy Fund Stock Performance

Shares of NYSE MCN traded down $0.07 during midday trading on Thursday, hitting $5.75. The stock had a trading volume of 42,429 shares, compared to its average volume of 74,295. Madison Covered Call & Equity Strategy Fund has a 1-year low of $5.16 and a 1-year high of $6.39. The company has a fifty day moving average price of $6.01 and a 200 day moving average price of $6.03.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend is Monday, March 16th.

Madison Covered Call & Equity Strategy Fund Company Profile

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.