Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Down 48.7% in May

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 16,609 shares, a drop of 48.7% from the May 14th total of 32,380 shares. Based on an average daily trading volume, of 54,686 shares, the short-interest ratio is currently 0.3 days.

Madison Covered Call & Equity Strategy Fund Stock Up 0.1%

Madison Covered Call & Equity Strategy Fund stock traded up $0.00 during trading hours on Friday, hitting $5.74. 49,650 shares of the company traded hands, compared to its average volume of 70,335. The firm’s 50-day simple moving average is $5.87 and its two-hundred day simple moving average is $5.94. Madison Covered Call & Equity Strategy Fund has a 1-year low of $5.65 and a 1-year high of $6.39.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 12.5%.

Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund

Several large investors have recently made changes to their positions in the business. Shaker Financial Services LLC boosted its position in shares of Madison Covered Call & Equity Strategy Fund by 27.9% during the 4th quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock valued at $4,105,000 after purchasing an additional 149,272 shares in the last quarter. Absolute Investment Advisers LLC boosted its position in shares of Madison Covered Call & Equity Strategy Fund by 6.1% during 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. Wells Fargo & Company MN boosted its position in shares of Madison Covered Call & Equity Strategy Fund by 1.3% during the 4th quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock valued at $2,712,000 after purchasing an additional 5,773 shares in the last quarter. Invesco Ltd. bought a new position in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter valued at about $1,305,000. Finally, Wolverine Asset Management LLC boosted its position in shares of Madison Covered Call & Equity Strategy Fund by 83.3% during the 4th quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock valued at $1,169,000 after purchasing an additional 88,517 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.