Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Rises By 1,564.3%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 45,568 shares, an increase of 1,564.3% from the January 29th total of 2,738 shares. Based on an average daily volume of 92,078 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 92,078 shares, the short-interest ratio is currently 0.5 days.

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

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

Madison Covered Call & Equity Strategy Fund Stock Performance

Shares of MCN stock opened at $6.09 on Thursday. Madison Covered Call & Equity Strategy Fund has a one year low of $5.16 and a one year high of $6.51. The firm’s 50 day moving average price is $6.04 and its 200-day moving average price is $6.07.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.9%.

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.