Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Up 138.4% in February

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 29,800 shares, a growth of 138.4% from the February 13th total of 12,500 shares. Based on an average daily volume of 61,300 shares, the days-to-cover ratio is currently 0.5 days.

Madison Covered Call & Equity Strategy Fund Trading Down 0.9 %

MCN stock traded down $0.06 during trading on Thursday, hitting $6.24. 41,126 shares of the stock traded hands, compared to its average volume of 59,973. Madison Covered Call & Equity Strategy Fund has a one year low of $6.23 and a one year high of $7.72. The company has a 50 day simple moving average of $6.52 and a 200 day simple moving average of $6.86.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.55%. The ex-dividend date is Monday, March 17th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC raised its position in Madison Covered Call & Equity Strategy Fund by 319.1% in the 4th quarter. Wolverine Asset Management LLC now owns 12,358 shares of the investment management company’s stock valued at $83,000 after purchasing an additional 9,409 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the third quarter valued at about $86,000. L.M. Kohn & Company lifted its position in Madison Covered Call & Equity Strategy Fund by 29.7% during the 3rd quarter. L.M. Kohn & Company now owns 22,059 shares of the investment management company’s stock worth $157,000 after buying an additional 5,050 shares in the last quarter. Jane Street Group LLC acquired a new position in Madison Covered Call & Equity Strategy Fund during the 3rd quarter worth about $192,000. Finally, Stratos Wealth Partners LTD. grew its holdings in Madison Covered Call & Equity Strategy Fund by 40.7% during the 4th quarter. Stratos Wealth Partners LTD. now owns 29,158 shares of the investment management company’s stock worth $196,000 after acquiring an additional 8,441 shares during the last quarter.

Madison Covered Call & Equity Strategy Fund Company Profile

Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.