Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Expands By 294.2%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 58,608 shares, a growth of 294.2% from the June 30th total of 14,866 shares. Based on an average trading volume of 60,357 shares, the days-to-cover ratio is currently 1.0 days.

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

A number of large investors have recently modified their holdings of MCN. Axiom Investment Management LLC acquired a new position in Madison Covered Call & Equity Strategy Fund during the 1st quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Madison Covered Call & Equity Strategy Fund during the fourth quarter valued at approximately $37,000. International Assets Investment Management LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the fourth quarter worth $43,000. Bank of America Corp DE acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the second quarter worth $48,000. Finally, Jane Street Group LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the fourth quarter valued at $67,000.

Madison Covered Call & Equity Strategy Fund Stock Up 0.5%

Madison Covered Call & Equity Strategy Fund stock traded up $0.03 during trading on Monday, reaching $5.62. 39,574 shares of the company’s stock were exchanged, compared to its average volume of 69,008. Madison Covered Call & Equity Strategy Fund has a 52-week low of $5.46 and a 52-week high of $6.39. The company’s 50-day moving average is $5.67 and its two-hundred day moving average is $5.86.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Wednesday, July 15th.

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.