Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Sees Large Decrease in Short Interest

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 5,699 shares, a drop of 35.5% from the August 15th total of 8,836 shares. Based on an average daily trading volume, of 45,321 shares, the days-to-cover ratio is currently 0.1 days.

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

A number of large investors have recently made changes to their positions in the company. Arlington Capital Management Inc. raised its position in Madison Covered Call & Equity Strategy Fund by 8.1% in the 1st quarter. Arlington Capital Management Inc. now owns 26,834 shares of the investment management company’s stock worth $156,000 after purchasing an additional 2,004 shares during the period. Procyon Advisors LLC grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 4.6% during the first quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock valued at $301,000 after buying an additional 2,265 shares during the last quarter. World Equity Group Inc. raised its holdings in shares of Madison Covered Call & Equity Strategy Fund by 2.4% in the first quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after buying an additional 2,698 shares during the period. Axiom Investment Management LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 1st quarter worth approximately $25,000. Finally, Tactive Advisors LLC boosted its holdings in Madison Covered Call & Equity Strategy Fund by 40.1% during the 2nd quarter. Tactive Advisors LLC now owns 16,958 shares of the investment management company’s stock valued at $94,000 after acquiring an additional 4,855 shares during the period.

Madison Covered Call & Equity Strategy Fund Stock Down 0.6%

NYSE MCN opened at $5.46 on Friday. The company has a fifty day moving average of $5.63 and a two-hundred day moving average of $5.74. Madison Covered Call & Equity Strategy Fund has a 52 week low of $5.45 and a 52 week high of $6.39.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 13.2%. The ex-dividend date is Tuesday, September 15th.

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.