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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 16,609 shares, a decline 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 presently 0.3 days.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Several large investors have recently bought and sold shares of the stock. Axiom Investment Management LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund during the 1st quarter worth approximately $25,000. World Equity Group Inc. grew its position in Madison Covered Call & Equity Strategy Fund by 2.4% during the 1st quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after purchasing an additional 2,698 shares during the last quarter. Procyon Advisors LLC grew its position in Madison Covered Call & Equity Strategy Fund by 4.6% during the 1st quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock worth $301,000 after purchasing an additional 2,265 shares during the last quarter. Arlington Capital Management Inc. grew its position in Madison Covered Call & Equity Strategy Fund by 8.1% during the 1st quarter. Arlington Capital Management Inc. now owns 26,834 shares of the investment management company’s stock worth $156,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Fifth Third Bancorp purchased a new stake in Madison Covered Call & Equity Strategy Fund during the 1st quarter worth approximately $265,000.

Madison Covered Call & Equity Strategy Fund Stock Down 0.8%

Shares of Madison Covered Call & Equity Strategy Fund stock traded down $0.05 on Monday, reaching $5.71. The stock had a trading volume of 66,089 shares, compared to its average volume of 70,297. The company has a 50 day moving average price of $5.87 and a 200 day moving average price of $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 Announces Dividend

The company 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 $0.06 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%.

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.