Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Up 26.1% in April

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 37,869 shares, a growth of 26.1% from the March 31st total of 30,037 shares. Based on an average trading volume of 55,395 shares, the short-interest ratio is presently 0.7 days.

Madison Covered Call & Equity Strategy Fund Stock Performance

Shares of MCN traded down $0.01 during trading hours on Friday, hitting $6.02. The stock had a trading volume of 80,041 shares, compared to its average volume of 69,560. The stock has a fifty day moving average price of $5.92 and a 200 day moving average price of $5.97. Madison Covered Call & Equity Strategy Fund has a 12 month low of $5.61 and a 12 month high of $6.39.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 1st. Shareholders of record on Wednesday, April 15th will be issued a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 12.0%. The ex-dividend date of this dividend is Wednesday, April 15th.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Several hedge funds have recently bought and sold shares of MCN. Absolute Investment Advisers LLC grew its holdings in Madison Covered Call & Equity Strategy Fund by 174.0% during the fourth 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 during the period. Invesco Ltd. bought a new stake in Madison Covered Call & Equity Strategy Fund during the second quarter valued at about $1,305,000. Guggenheim Capital LLC bought a new stake in Madison Covered Call & Equity Strategy Fund during the fourth quarter valued at about $993,000. Shaker Financial Services LLC grew its holdings in Madison Covered Call & Equity Strategy Fund by 27.9% during 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 purchasing an additional 149,272 shares during the period. Finally, Wolverine Asset Management LLC grew its holdings in Madison Covered Call & Equity Strategy Fund by 2,049.0% during the third quarter. Wolverine Asset Management LLC now owns 106,267 shares of the investment management company’s stock valued at $656,000 after purchasing an additional 101,322 shares during the period.

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 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.