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

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

Madison Covered Call & Equity Strategy Fund Stock Down 0.6%

NYSE MCN traded down $0.04 during trading on Friday, hitting $5.46. The stock had a trading volume of 7,206 shares, compared to its average volume of 65,383. Madison Covered Call & Equity Strategy Fund has a one year low of $5.45 and a one year high of $6.39. The stock has a 50 day simple moving average of $5.63 and a 200 day simple moving average of $5.74.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 13.2%.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP grew its stake in Madison Covered Call & Equity Strategy Fund by 84.9% in the second quarter. Susquehanna International Group LLP now owns 37,372 shares of the investment management company’s stock valued at $206,000 after purchasing an additional 17,162 shares during the last quarter. Tactive Advisors LLC boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 40.1% in the 2nd 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 purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the 1st quarter worth approximately $25,000. World Equity Group Inc. lifted its position 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 valued at $664,000 after acquiring an additional 2,698 shares during the last quarter. Finally, Procyon Advisors LLC boosted its stake in Madison Covered Call & Equity Strategy Fund by 4.6% in the 1st quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock worth $301,000 after purchasing an additional 2,265 shares in the last quarter.

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.