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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 37,869 shares, an increase of 26.1% from the March 31st total of 30,037 shares. Based on an average trading volume of 55,395 shares, the days-to-cover ratio is currently 0.7 days.

Madison Covered Call & Equity Strategy Fund Trading Down 0.1%

Shares of MCN stock traded down $0.01 on Friday, reaching $6.02. 80,041 shares of the stock were exchanged, compared to its average volume of 69,560. Madison Covered Call & Equity Strategy Fund has a one year low of $5.61 and a one year high of $6.39. The stock has a 50 day moving average price of $5.92 and a 200 day moving average price of $5.97.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, May 1st. Stockholders of record on Wednesday, April 15th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew 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 acquiring an additional 2,447 shares during the period. Independent Wealth Network Inc. grew its stake in Madison Covered Call & Equity Strategy Fund by 6.6% in the fourth quarter. Independent Wealth Network Inc. now owns 63,039 shares of the investment management company’s stock valued at $378,000 after acquiring an additional 3,907 shares during the period. World Equity Group Inc. grew its stake in Madison Covered Call & Equity Strategy Fund by 4.9% in the third quarter. World Equity Group Inc. now owns 104,173 shares of the investment management company’s stock valued at $643,000 after acquiring an additional 4,910 shares during the period. Wells Fargo & Company MN grew its stake in Madison Covered Call & Equity Strategy Fund by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock valued at $2,712,000 after acquiring an additional 5,773 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in Madison Covered Call & Equity Strategy Fund in the fourth quarter valued at about $37,000.

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.