Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Drops By 85.3%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a significant decline in short interest in January. As of January 30th, there was short interest totaling 2,738 shares, a decline of 85.3% from the January 15th total of 18,677 shares. Based on an average trading volume of 87,703 shares, the short-interest ratio is currently 0.0 days. Based on an average trading volume of 87,703 shares, the short-interest ratio is currently 0.0 days.

Madison Covered Call & Equity Strategy Fund Trading Up 0.4%

Shares of NYSE MCN traded up $0.02 during mid-day trading on Wednesday, reaching $6.17. 52,990 shares of the company were exchanged, compared to its average volume of 91,953. The firm has a 50-day moving average of $6.00 and a 200 day moving average of $6.08. Madison Covered Call & Equity Strategy Fund has a 1 year low of $5.16 and a 1 year high of $6.51.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 17th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.9%.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the fourth quarter worth about $43,000. Wolverine Asset Management LLC grew its position in Madison Covered Call & Equity Strategy Fund by 83.3% in the 4th quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock valued at $1,169,000 after acquiring an additional 88,517 shares in the last quarter. Absolute Investment Advisers LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 174.0% during the 4th quarter. Absolute Investment Advisers LLC now owns 534,643 shares of the investment management company’s stock worth $3,256,000 after buying an additional 339,488 shares during the period. Shaker Financial Services LLC boosted its holdings in Madison Covered Call & Equity Strategy Fund by 27.9% in the fourth quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock valued at $4,105,000 after purchasing an additional 149,272 shares during the period. Finally, Independent Wealth Network Inc. grew its position in shares of Madison Covered Call & Equity Strategy Fund by 6.6% during the fourth quarter. Independent Wealth Network Inc. now owns 63,039 shares of the investment management company’s stock worth $378,000 after buying an additional 3,907 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.