Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Update

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

Madison Covered Call & Equity Strategy Fund Stock Up 0.3%

NYSE MCN traded up $0.01 during trading on Friday, hitting $5.57. The company had a trading volume of 21,542 shares, compared to its average volume of 69,219. Madison Covered Call & Equity Strategy Fund has a one year low of $5.46 and a one year high of $6.39. The company’s fifty day moving average is $5.67 and its 200-day moving average is $5.86.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 12.9%.

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

A number of institutional investors have recently bought and sold shares of MCN. Axiom Investment Management LLC bought a new stake in Madison Covered Call & Equity Strategy Fund during the 1st quarter valued at approximately $25,000. Kestra Advisory Services LLC bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the 4th quarter worth approximately $37,000. International Assets Investment Management LLC bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the 4th quarter worth approximately $43,000. Bank of America Corp DE purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the 2nd quarter valued at approximately $48,000. Finally, Jane Street Group LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at approximately $67,000.

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.