Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Expands By 64.4%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 18,677 shares, a growth of 64.4% from the December 31st total of 11,359 shares. Based on an average trading volume of 94,555 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 94,555 shares, the days-to-cover ratio is presently 0.2 days.

Madison Covered Call & Equity Strategy Fund Stock Up 0.2%

Madison Covered Call & Equity Strategy Fund stock opened at $6.04 on Monday. Madison Covered Call & Equity Strategy Fund has a 52-week low of $5.16 and a 52-week high of $6.59. The firm’s fifty day moving average is $5.98 and its 200 day moving average is $6.08.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently announced a monthly dividend, which was paid on Friday, January 30th. Investors of record on Thursday, January 15th were issued a $0.06 dividend. The ex-dividend date was Thursday, January 15th. This represents a c) annualized dividend and a yield of 11.9%.

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

Large investors have recently bought and sold shares of the business. Absolute Investment Advisers LLC raised its stake 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 in the last quarter. Shaker Financial Services LLC grew its stake in Madison Covered Call & Equity Strategy Fund by 27.9% in the fourth quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock valued at $4,105,000 after acquiring an additional 149,272 shares during the period. Independent Wealth Network Inc. grew its holdings in shares of Madison Covered Call & Equity Strategy Fund by 6.6% during the fourth quarter. Independent Wealth Network Inc. now owns 63,039 shares of the investment management company’s stock valued at $378,000 after buying an additional 3,907 shares during the last quarter. World Equity Group Inc. lifted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 6.8% in the fourth quarter. World Equity Group Inc. now owns 111,230 shares of the investment management company’s stock valued at $667,000 after purchasing an additional 7,057 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in Madison Covered Call & Equity Strategy Fund during the third quarter worth about $87,000.

Madison Covered Call & Equity Strategy Fund Company Profile

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.