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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN – Get Rating) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 94,700 shares, a decrease of 49.5% from the April 30th total of 187,400 shares. Based on an average trading volume of 61,200 shares, the days-to-cover ratio is currently 1.5 days.

Madison Covered Call & Equity Strategy Fund Stock Up 0.3 %

NYSE:MCN traded up $0.02 during mid-day trading on Friday, reaching $7.46. 43,229 shares of the company were exchanged, compared to its average volume of 52,556. Madison Covered Call & Equity Strategy Fund has a 12 month low of $6.27 and a 12 month high of $8.60. The company has a fifty day moving average of $8.01 and a 200 day moving average of $7.87.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Thursday, March 16th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 9.65%. The ex-dividend date was Wednesday, March 15th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MCN. Procyon Advisors LLC raised its holdings in Madison Covered Call & Equity Strategy Fund by 2.6% during the 1st quarter. Procyon Advisors LLC now owns 51,973 shares of the investment management company’s stock worth $413,000 after buying an additional 1,300 shares during the period. UBS Group AG grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 1.1% in the third quarter. UBS Group AG now owns 175,614 shares of the investment management company’s stock valued at $1,135,000 after buying an additional 1,973 shares in the last quarter. Raymond James & Associates boosted its position in Madison Covered Call & Equity Strategy Fund by 17.5% during the third quarter. Raymond James & Associates now owns 22,562 shares of the investment management company’s stock worth $146,000 after purchasing an additional 3,364 shares during the period. Commonwealth Equity Services LLC boosted its position in Madison Covered Call & Equity Strategy Fund by 37.1% during the first quarter. Commonwealth Equity Services LLC now owns 15,232 shares of the investment management company’s stock worth $121,000 after purchasing an additional 4,123 shares during the period. Finally, Spire Wealth Management boosted its position in Madison Covered Call & Equity Strategy Fund by 16.8% during the fourth quarter. Spire Wealth Management now owns 28,895 shares of the investment management company’s stock worth $224,000 after purchasing an additional 4,146 shares during the period.

Madison Covered Call & Equity Strategy Fund Company Profile

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Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.