Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Sees Significant Growth in Short Interest

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 80,500 shares, a growth of 31.1% from the September 15th total of 61,400 shares. Based on an average trading volume of 49,600 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. World Equity Group Inc. increased its position in shares of Madison Covered Call & Equity Strategy Fund by 2.0% in the 2nd quarter. World Equity Group Inc. now owns 90,746 shares of the investment management company’s stock valued at $690,000 after acquiring an additional 1,755 shares during the period. Independent Wealth Network Inc. boosted its position in Madison Covered Call & Equity Strategy Fund by 5.7% in the first quarter. Independent Wealth Network Inc. now owns 42,910 shares of the investment management company’s stock valued at $314,000 after buying an additional 2,318 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Madison Covered Call & Equity Strategy Fund in the 2nd quarter worth approximately $26,000. Janney Montgomery Scott LLC raised its position in Madison Covered Call & Equity Strategy Fund by 130.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 27,470 shares of the investment management company’s stock worth $201,000 after buying an additional 15,556 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Madison Covered Call & Equity Strategy Fund by 83.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 37,929 shares of the investment management company’s stock valued at $288,000 after acquiring an additional 17,206 shares during the period.

Madison Covered Call & Equity Strategy Fund Stock Performance

Shares of MCN traded up $0.01 during mid-day trading on Tuesday, hitting $7.08. 33,382 shares of the company traded hands, compared to its average volume of 47,877. The business has a 50 day moving average of $7.21 and a 200 day moving average of $7.21. Madison Covered Call & Equity Strategy Fund has a 1-year low of $6.71 and a 1-year high of $7.72.

About Madison Covered Call & Equity Strategy Fund

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.