Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Decreases By 35.5%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 5,699 shares, a decrease of 35.5% from the August 15th total of 8,836 shares. Based on an average daily volume of 45,321 shares, the days-to-cover ratio is presently 0.1 days.

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

Hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP increased its position in Madison Covered Call & Equity Strategy Fund by 84.9% during the 2nd quarter. Susquehanna International Group LLP now owns 37,372 shares of the investment management company’s stock worth $206,000 after purchasing an additional 17,162 shares during the period. Tactive Advisors LLC boosted its stake in shares of Madison Covered Call & Equity Strategy Fund by 40.1% in the second quarter. Tactive Advisors LLC now owns 16,958 shares of the investment management company’s stock valued at $94,000 after buying an additional 4,855 shares in the last quarter. Axiom Investment Management LLC acquired a new position in Madison Covered Call & Equity Strategy Fund during the first quarter worth $25,000. World Equity Group Inc. grew its holdings in Madison Covered Call & Equity Strategy Fund by 2.4% during the first quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after acquiring an additional 2,698 shares during the period. Finally, Procyon Advisors LLC raised its position in Madison Covered Call & Equity Strategy Fund by 4.6% in the first quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock worth $301,000 after acquiring an additional 2,265 shares in the last quarter.

Madison Covered Call & Equity Strategy Fund Stock Performance

NYSE:MCN traded down $0.01 during midday trading on Thursday, reaching $5.49. The stock had a trading volume of 47,992 shares, compared to its average volume of 65,711. The firm has a fifty day simple moving average of $5.63 and a two-hundred day simple moving average of $5.75. Madison Covered Call & Equity Strategy Fund has a 12-month low of $5.45 and a 12-month high of $6.39.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 13.1%. The ex-dividend date is Tuesday, September 15th.

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.