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 in December. As of December 15th, there was short interest totaling 7,217 shares, a decline of 64.8% from the November 30th total of 20,491 shares. Based on an average daily trading volume, of 54,932 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily trading volume, of 54,932 shares, the days-to-cover ratio is currently 0.1 days.

Madison Covered Call & Equity Strategy Fund Stock Performance

MCN remained flat at $5.94 during mid-day trading on Friday. The company had a trading volume of 104,747 shares, compared to its average volume of 70,097. The firm’s fifty day moving average price is $5.95 and its two-hundred day moving average price is $6.12. Madison Covered Call & Equity Strategy Fund has a 1 year low of $5.16 and a 1 year high of $6.83.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend is Monday, December 15th.

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

Large investors have recently added to or reduced their stakes in the business. Centurion Wealth Management LLC raised its position in shares of Madison Covered Call & Equity Strategy Fund by 1.2% during the 2nd quarter. Centurion Wealth Management LLC now owns 173,615 shares of the investment management company’s stock worth $1,085,000 after acquiring an additional 2,130 shares in the last quarter. Royal Bank of Canada increased its stake in Madison Covered Call & Equity Strategy Fund by 5.9% in the first quarter. Royal Bank of Canada now owns 44,179 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 2,447 shares during the last quarter. Independent Wealth Network Inc. raised its holdings in Madison Covered Call & Equity Strategy Fund by 5.7% during the second quarter. Independent Wealth Network Inc. now owns 55,611 shares of the investment management company’s stock worth $348,000 after purchasing an additional 3,021 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter worth approximately $27,000. Finally, World Equity Group Inc. boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 4.9% in the 3rd quarter. World Equity Group Inc. now owns 104,173 shares of the investment management company’s stock valued at $643,000 after buying an additional 4,910 shares in the last quarter.

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.