Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Increases By 138.4%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 29,800 shares, a growth of 138.4% from the February 13th total of 12,500 shares. Based on an average daily trading volume, of 61,300 shares, the days-to-cover ratio is presently 0.5 days.

Madison Covered Call & Equity Strategy Fund Stock Performance

MCN traded down $0.06 during trading on Thursday, hitting $6.24. The stock had a trading volume of 41,126 shares, compared to its average volume of 59,973. Madison Covered Call & Equity Strategy Fund has a 12 month low of $6.23 and a 12 month high of $7.72. The company has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $6.86.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a $0.18 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.55%.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the fourth quarter worth approximately $1,555,000. Private Advisor Group LLC increased its position in Madison Covered Call & Equity Strategy Fund by 5.2% during the fourth quarter. Private Advisor Group LLC now owns 48,825 shares of the investment management company’s stock worth $328,000 after acquiring an additional 2,403 shares during the period. D.A. Davidson & CO. raised its stake in Madison Covered Call & Equity Strategy Fund by 9.4% during the 4th quarter. D.A. Davidson & CO. now owns 32,721 shares of the investment management company’s stock valued at $220,000 after purchasing an additional 2,818 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in Madison Covered Call & Equity Strategy Fund by 319.1% in the 4th quarter. Wolverine Asset Management LLC now owns 12,358 shares of the investment management company’s stock valued at $83,000 after purchasing an additional 9,409 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in Madison Covered Call & Equity Strategy Fund by 715.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 242,496 shares of the investment management company’s stock worth $1,627,000 after purchasing an additional 212,745 shares during the last quarter.

Madison Covered Call & Equity Strategy Fund Company Profile

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.