Madison Covered Call & Equity Strategy Fund (MCN) to Issue Monthly Dividend of $0.06 on August 3rd

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) declared a monthly dividend on Wednesday, July 1st. Investors of record on Wednesday, July 15th will be paid a dividend of 0.06 per share by the investment management company on Monday, August 3rd. This represents a c) annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend is Wednesday, July 15th.

Madison Covered Call & Equity Strategy Fund Price Performance

MCN opened at $5.57 on Friday. The business’s fifty day simple moving average is $5.78 and its 200 day simple moving average is $5.90. Madison Covered Call & Equity Strategy Fund has a 52 week low of $5.46 and a 52 week high of $6.39.

Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund

Several institutional investors have recently modified their holdings of the company. Shaker Financial Services LLC raised its holdings in shares of Madison Covered Call & Equity Strategy Fund by 27.9% during the 4th quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock valued at $4,105,000 after buying an additional 149,272 shares in the last quarter. Absolute Investment Advisers LLC boosted its stake in Madison Covered Call & Equity Strategy Fund by 6.1% in the first quarter. Absolute Investment Advisers LLC now owns 567,061 shares of the investment management company’s stock worth $3,306,000 after buying an additional 32,418 shares in the last quarter. Wells Fargo & Company MN grew its position in Madison Covered Call & Equity Strategy Fund by 1.3% during 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 last quarter. Invesco Ltd. bought a new position in Madison Covered Call & Equity Strategy Fund during the second quarter valued at approximately $1,305,000. Finally, Wolverine Asset Management LLC raised its stake in shares of Madison Covered Call & Equity Strategy Fund by 83.3% during the fourth quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock worth $1,169,000 after acquiring an additional 88,517 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.