Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Down 35.5% in August

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 5,699 shares, a drop of 35.5% from the August 15th total of 8,836 shares. Based on an average daily volume of 45,321 shares, the days-to-cover ratio is presently 0.1 days.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. Absolute Investment Advisers LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 6.1% in the 1st quarter. Absolute Investment Advisers LLC now owns 567,061 shares of the investment management company’s stock valued at $3,306,000 after purchasing an additional 32,418 shares in the last quarter. World Equity Group Inc. boosted its position in Madison Covered Call & Equity Strategy Fund by 2.4% during the first quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after purchasing an additional 2,698 shares in the last quarter. Procyon Advisors LLC grew its holdings in Madison Covered Call & Equity Strategy Fund by 4.6% in the first quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock valued at $301,000 after purchasing an additional 2,265 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Madison Covered Call & Equity Strategy Fund in the first quarter valued at $265,000. Finally, Susquehanna International Group LLP increased its position in shares of Madison Covered Call & Equity Strategy Fund by 84.9% in the second quarter. Susquehanna International Group LLP now owns 37,372 shares of the investment management company’s stock valued at $206,000 after buying an additional 17,162 shares in the last quarter.

Madison Covered Call & Equity Strategy Fund Stock Down 0.1%

MCN stock traded down $0.01 during trading on Thursday, reaching $5.49. 47,992 shares of the company were exchanged, compared to its average volume of 65,711. Madison Covered Call & Equity Strategy Fund has a 52-week low of $5.45 and a 52-week high of $6.39. The stock’s 50 day moving average price is $5.63 and its 200 day moving average price is $5.75.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date is Tuesday, September 15th.

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.