Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Up 138.4% in February

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 29,800 shares, an increase of 138.4% from the February 13th total of 12,500 shares. Based on an average daily trading volume, of 61,300 shares, the days-to-cover 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 made changes to their positions in the stock. Raymond James Financial Inc. purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at approximately $1,555,000. Atria Wealth Solutions Inc. boosted its holdings in Madison Covered Call & Equity Strategy Fund by 715.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 242,496 shares of the investment management company’s stock valued at $1,627,000 after purchasing an additional 212,745 shares in the last quarter. Shaker Financial Services LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at approximately $1,296,000. World Equity Group Inc. boosted its holdings in Madison Covered Call & Equity Strategy Fund by 108.1% in the 4th quarter. World Equity Group Inc. now owns 190,616 shares of the investment management company’s stock valued at $1,279,000 after purchasing an additional 99,035 shares in the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 3rd quarter valued at approximately $213,000.

Madison Covered Call & Equity Strategy Fund Stock Performance

Shares of NYSE MCN traded up $0.06 during midday trading on Friday, reaching $6.29. 38,624 shares of the company were exchanged, compared to its average volume of 59,537. Madison Covered Call & Equity Strategy Fund has a 1 year low of $6.23 and a 1 year high of $7.72. The stock has a fifty day simple moving average of $6.50 and a 200 day simple moving average of $6.85.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.46%. The ex-dividend date of this dividend is Monday, March 17th.

Madison Covered Call & Equity Strategy Fund Company Profile

Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.