Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Rises By 294.2%

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

Madison Covered Call & Equity Strategy Fund Trading Up 0.5%

Madison Covered Call & Equity Strategy Fund stock opened at $5.62 on Tuesday. The firm has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $5.86. Madison Covered Call & Equity Strategy Fund has a 1-year low of $5.46 and a 1-year high of $6.39.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in MCN. Kestra Advisory Services LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter worth approximately $37,000. Tactive Advisors LLC grew its position in shares of Madison Covered Call & Equity Strategy Fund by 40.1% during the 2nd quarter. Tactive Advisors LLC now owns 16,958 shares of the investment management company’s stock valued at $94,000 after purchasing an additional 4,855 shares in the last quarter. Axiom Investment Management LLC bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the first quarter worth $25,000. Fifth Third Bancorp bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the first quarter worth $265,000. Finally, World Equity Group Inc. raised its position in shares of Madison Covered Call & Equity Strategy Fund by 2.4% in the first quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after buying an additional 2,698 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.