Madison Covered Call & Equity Strategy Fund Announces Monthly Dividend of $0.06 (NYSE:MCN)

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) declared a monthly dividend on Monday, November 3rd. Stockholders of record on Monday, November 17th will be paid a dividend of 0.06 per share by the investment management company on Monday, December 1st. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend is Monday, November 17th.

Madison Covered Call & Equity Strategy Fund Stock Performance

Shares of MCN stock traded down $0.03 during trading hours on Tuesday, reaching $5.98. 6,386 shares of the company’s stock were exchanged, compared to its average volume of 69,778. The company’s 50 day moving average is $6.18 and its two-hundred day moving average is $6.11. Madison Covered Call & Equity Strategy Fund has a 1 year low of $5.16 and a 1 year high of $7.13.

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

Several hedge funds have recently bought and sold shares of MCN. D.A. Davidson & CO. increased its stake in Madison Covered Call & Equity Strategy Fund by 6.2% in the 1st quarter. D.A. Davidson & CO. now owns 34,740 shares of the investment management company’s stock valued at $213,000 after purchasing an additional 2,019 shares in the last quarter. Calamos Advisors LLC purchased a new position in Madison Covered Call & Equity Strategy Fund in the 1st quarter valued at approximately $354,000. Bank of New York Mellon Corp purchased a new position in Madison Covered Call & Equity Strategy Fund in the 1st quarter valued at approximately $104,000. Independent Wealth Network Inc. increased its stake in Madison Covered Call & Equity Strategy Fund by 4.0% in the 1st quarter. Independent Wealth Network Inc. now owns 52,590 shares of the investment management company’s stock valued at $322,000 after purchasing an additional 2,028 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 1.2% in the 1st quarter. LPL Financial LLC now owns 242,701 shares of the investment management company’s stock valued at $1,488,000 after purchasing an additional 2,979 shares in the last quarter.

About Madison Covered Call & Equity Strategy Fund

Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.