Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Up 84.3% in March

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 30,969 shares, a growth of 84.3% from the February 26th total of 16,800 shares. Based on an average daily trading volume, of 59,745 shares, the days-to-cover ratio is presently 0.5 days.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Absolute Investment Advisers LLC boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 174.0% in the 4th quarter. Absolute Investment Advisers LLC now owns 534,643 shares of the investment management company’s stock valued at $3,256,000 after purchasing an additional 339,488 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter worth $1,305,000. Guggenheim Capital LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the 4th quarter worth $993,000. Shaker Financial Services LLC raised its position in shares of Madison Covered Call & Equity Strategy Fund by 27.9% in the 4th quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock worth $4,105,000 after buying an additional 149,272 shares during the period. Finally, Wolverine Asset Management LLC boosted its holdings in Madison Covered Call & Equity Strategy Fund by 2,049.0% in the third quarter. Wolverine Asset Management LLC now owns 106,267 shares of the investment management company’s stock valued at $656,000 after acquiring an additional 101,322 shares during the last quarter.

Madison Covered Call & Equity Strategy Fund Stock Down 1.2%

MCN traded down $0.07 during midday trading on Thursday, hitting $5.75. The company’s stock had a trading volume of 42,429 shares, compared to its average volume of 74,295. Madison Covered Call & Equity Strategy Fund has a 52-week low of $5.16 and a 52-week high of $6.39. The firm has a 50-day moving average price of $6.01 and a two-hundred day moving average price of $6.03.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date is Monday, March 16th.

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.