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 increase in short interest during the month of September. As of September 15th, there was short interest totaling 10,449 shares, an increase of 83.3% from the August 31st total of 5,699 shares. Based on an average daily volume of 44,297 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Axiom Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund during the 1st quarter worth $25,000. Tactive Advisors LLC lifted its stake in shares of Madison Covered Call & Equity Strategy Fund by 40.1% in the second quarter. Tactive Advisors LLC now owns 16,958 shares of the investment management company’s stock worth $94,000 after buying an additional 4,855 shares in the last quarter. Arlington Capital Management Inc. lifted its stake in shares of Madison Covered Call & Equity Strategy Fund by 8.1% in the first quarter. Arlington Capital Management Inc. now owns 26,834 shares of the investment management company’s stock worth $156,000 after buying an additional 2,004 shares in the last quarter. Susquehanna International Group LLP boosted its position in Madison Covered Call & Equity Strategy Fund by 84.9% during the second quarter. Susquehanna International Group LLP now owns 37,372 shares of the investment management company’s stock worth $206,000 after acquiring an additional 17,162 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Madison Covered Call & Equity Strategy Fund during the first quarter worth about $265,000.

Madison Covered Call & Equity Strategy Fund Stock Performance

MCN traded down $0.03 during trading on Tuesday, reaching $5.24. 103,259 shares of the company’s stock were exchanged, compared to its average volume of 66,001. The company’s fifty day simple moving average is $5.59 and its 200-day simple moving average is $5.71. Madison Covered Call & Equity Strategy Fund has a 1 year low of $5.22 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 Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 13.7%. The ex-dividend date is Tuesday, September 15th.

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 current income and long-term capital appreciation. The fund is managed by Madison Investments, an investment management firm offering a range of equity and fixed-income strategies.

The fund invests primarily in a diversified portfolio of common stocks, with an emphasis on companies that Madison believes offer the potential for income and growth. It also employs a covered call strategy, writing call options on selected portfolio holdings to generate additional income while retaining exposure to the underlying equities.

MCN focuses mainly on the U.S.