Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Update

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 8,836 shares, a decline of 81.7% from the July 30th total of 48,164 shares. Based on an average daily volume of 64,597 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. acquired a new position in Madison Covered Call & Equity Strategy Fund during the second quarter valued at $1,305,000. Guggenheim Capital LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at about $993,000. Quarry LP boosted its stake in shares of Madison Covered Call & Equity Strategy Fund by 140.9% in the fourth quarter. Quarry LP now owns 168,937 shares of the investment management company’s stock worth $1,014,000 after buying an additional 98,797 shares during the last quarter. Wolverine Asset Management LLC boosted its stake in shares of Madison Covered Call & Equity Strategy Fund by 83.3% in the fourth quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock worth $1,169,000 after buying an additional 88,517 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Madison Covered Call & Equity Strategy Fund during the first quarter worth about $265,000.

Madison Covered Call & Equity Strategy Fund Trading Up 0.2%

Madison Covered Call & Equity Strategy Fund stock traded up $0.01 during midday trading on Thursday, reaching $5.66. The company’s stock had a trading volume of 20,383 shares, compared to its average volume of 66,927. Madison Covered Call & Equity Strategy Fund has a 52-week low of $5.46 and a 52-week high of $6.39. The stock’s 50-day simple moving average is $5.60 and its 200-day simple moving average is $5.80.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date of this dividend is Monday, August 17th.

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.