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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 8,836 shares, a decline of 81.7% from the July 30th total of 48,164 shares. Based on an average daily volume of 64,597 shares, the short-interest ratio is presently 0.1 days.

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

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Madison Covered Call & Equity Strategy Fund by 5.9% during 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 period. Cetera Investment Advisers bought a new stake in shares of Madison Covered Call & Equity Strategy Fund in the second quarter valued at $88,000. Invesco Ltd. purchased a new position in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter valued at $1,305,000. Bank of America Corp DE bought a new position in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter worth $48,000. Finally, Raymond James Financial Inc. grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 4.3% during the 3rd quarter. Raymond James Financial Inc. now owns 193,822 shares of the investment management company’s stock worth $1,196,000 after acquiring an additional 7,916 shares during the period.

Madison Covered Call & Equity Strategy Fund Price Performance

MCN traded down $0.03 during trading on Wednesday, hitting $5.65. 23,156 shares of the company traded hands, compared to its average volume of 67,016. The stock’s fifty day moving average is $5.60 and its 200 day moving average is $5.80. Madison Covered Call & Equity Strategy Fund has a one year low of $5.46 and a one year high of $6.39.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Monday, August 17th will be given a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.7%. The ex-dividend date of this dividend is Monday, August 17th.

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.