Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Rises By 26.1%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 37,869 shares, a growth of 26.1% from the March 31st total of 30,037 shares. Based on an average daily volume of 55,395 shares, the short-interest ratio is currently 0.7 days.

Madison Covered Call & Equity Strategy Fund Trading Down 0.1%

Shares of NYSE:MCN traded down $0.01 during midday trading on Friday, hitting $6.02. The company had a trading volume of 80,041 shares, compared to its average volume of 69,560. Madison Covered Call & Equity Strategy Fund has a 12-month low of $5.61 and a 12-month high of $6.39. The company has a fifty day moving average of $5.92 and a two-hundred day moving average of $5.97.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Wednesday, April 15th.

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

Institutional investors have recently bought and sold shares of the business. 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 worth $3,306,000 after buying an additional 32,418 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter worth $43,000. Wolverine Asset Management LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 83.3% in the 4th quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock worth $1,169,000 after buying an additional 88,517 shares in the last quarter. Shaker Financial Services LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 27.9% in the 4th quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock worth $4,105,000 after buying an additional 149,272 shares in the last quarter. Finally, Independent Wealth Network Inc. increased its stake in Madison Covered Call & Equity Strategy Fund by 6.6% in the 4th quarter. Independent Wealth Network Inc. now owns 63,039 shares of the investment management company’s stock worth $378,000 after buying an additional 3,907 shares in the last quarter.

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.