Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Up 57.4% in December

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 11,359 shares, an increase of 57.4% from the December 15th total of 7,217 shares. Based on an average daily volume of 102,992 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 102,992 shares, the short-interest ratio is presently 0.1 days.

Madison Covered Call & Equity Strategy Fund Price Performance

NYSE MCN traded down $0.08 during trading hours on Friday, reaching $5.96. 178,285 shares of the company’s stock were exchanged, compared to its average volume of 102,117. The company’s 50-day moving average is $5.95 and its two-hundred day moving average is $6.11. Madison Covered Call & Equity Strategy Fund has a one year low of $5.16 and a one year high of $6.72.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be paid a $0.06 dividend. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date is Thursday, January 15th.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Hedge funds have recently added to or reduced their stakes in the company. World Equity Group Inc. boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 6.8% in the 4th quarter. World Equity Group Inc. now owns 111,230 shares of the investment management company’s stock valued at $667,000 after purchasing an additional 7,057 shares in the last quarter. Susquehanna International Group LLP acquired a new stake in Madison Covered Call & Equity Strategy Fund during the 3rd quarter worth about $87,000. Raymond James Financial Inc. boosted its stake in Madison Covered Call & Equity Strategy Fund by 4.3% during the third quarter. Raymond James Financial Inc. now owns 193,822 shares of the investment management company’s stock worth $1,196,000 after acquiring an additional 7,916 shares in the last quarter. Wolverine Asset Management LLC raised its position in shares of Madison Covered Call & Equity Strategy Fund by 2,049.0% during the third quarter. Wolverine Asset Management LLC now owns 106,267 shares of the investment management company’s stock worth $656,000 after purchasing an additional 101,322 shares during the period. Finally, Benjamin Edwards Inc. bought a new stake in Madison Covered Call & Equity Strategy Fund during the 3rd quarter worth approximately $158,000.

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.