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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large drop in short interest in October. As of October 30th, there was short interest totaling 2,330 shares, a drop of 90.9% from the October 15th total of 25,714 shares. Based on an average daily trading volume, of 66,146 shares, the short-interest ratio is currently 0.0 days.

Madison Covered Call & Equity Strategy Fund Stock Performance

Madison Covered Call & Equity Strategy Fund stock opened at $5.47 on Friday. The company’s 50-day moving average price is $5.39 and its 200-day moving average price is $5.70. Madison Covered Call & Equity Strategy Fund has a twelve month low of $5.18 and a twelve month high of $6.20.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be given a $0.06 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.72 annualized dividend and a yield of 13.2%.

Institutional Investors Weigh In On Madison Covered Call & Equity Strategy Fund

Several large investors have recently added to or reduced their stakes in MCN. Blue Bell Private Wealth Management LLC increased its position in shares of Madison Covered Call & Equity Strategy Fund by 798.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 24,288 shares of the investment management company’s stock valued at $128,000 after purchasing an additional 21,584 shares during the last quarter. Isthmus Partners LLC bought a new stake in Madison Covered Call & Equity Strategy Fund in the third quarter worth $400,000. Shaker Financial Services LLC lifted its position in Madison Covered Call & Equity Strategy Fund by 28.3% in the third quarter. Shaker Financial Services LLC now owns 546,122 shares of the investment management company’s stock worth $2,902,000 after buying an additional 120,532 shares during the last quarter. CoreCap Advisors LLC lifted its position in Madison Covered Call & Equity Strategy Fund by 400.0% in the third quarter. CoreCap Advisors LLC now owns 7,500 shares of the investment management company’s stock worth $39,000 after buying an additional 6,000 shares during the last quarter. Finally, Tactive Advisors LLC boosted its stake in Madison Covered Call & Equity Strategy Fund by 29.1% during the third quarter. Tactive Advisors LLC now owns 21,885 shares of the investment management company’s stock worth $115,000 after buying an additional 4,927 shares during the period.

Madison Covered Call & Equity Strategy Fund Company Profile

Madison Covered Call & Equity Strategy Fund (NYSE: MCN) is a closed-end investment company managed by Madison Investments. The fund seeks to provide current income and long-term capital appreciation through a portfolio of equity securities and an options-writing strategy. The fund primarily invests in publicly traded common stocks, generally emphasizing established U.S. companies across a range of industries. It writes covered call options on some of its equity holdings, a strategy designed to generate additional income while potentially limiting participation in some stock-price gains.