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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) declared a monthly dividend on Monday, August 3rd. Investors of record on Monday, August 17th will be paid a dividend of 0.06 per share by the investment management company on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Monday, August 17th.

Madison Covered Call & Equity Strategy Fund Trading Up 0.1%

MCN opened at $5.64 on Tuesday. Madison Covered Call & Equity Strategy Fund has a twelve month low of $5.46 and a twelve month high of $6.39. The company’s 50-day moving average price is $5.64 and its two-hundred day moving average price is $5.84.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shaker Financial Services LLC grew its position in shares of Madison Covered Call & Equity Strategy Fund by 27.9% in the fourth quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock valued at $4,105,000 after purchasing an additional 149,272 shares in the last quarter. Absolute Investment Advisers LLC grew its position in Madison Covered Call & Equity Strategy Fund by 6.1% in the first quarter. Absolute Investment Advisers LLC now owns 567,061 shares of the investment management company’s stock worth $3,306,000 after acquiring an additional 32,418 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Madison Covered Call & Equity Strategy Fund by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock worth $2,712,000 after acquiring an additional 5,773 shares in the last quarter. Invesco Ltd. bought a new position in shares of Madison Covered Call & Equity Strategy Fund during the second quarter valued at about $1,305,000. Finally, Wolverine Asset Management LLC increased its stake 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 worth $1,169,000 after purchasing an additional 88,517 shares during the period.

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.