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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 11,359 shares, a growth of 57.4% from the December 15th total of 7,217 shares. Based on an average daily volume of 102,992 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 102,992 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund in the 2nd quarter valued at about $27,000. Bank of America Corp DE bought a new stake in Madison Covered Call & Equity Strategy Fund during the 2nd quarter worth approximately $48,000. Tactive Advisors LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the third quarter worth $71,000. Susquehanna International Group LLP bought a new stake in Madison Covered Call & Equity Strategy Fund in the 3rd quarter valued at approximately $87,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Madison Covered Call & Equity Strategy Fund in the second quarter valued at approximately $88,000.

Madison Covered Call & Equity Strategy Fund Trading Down 1.3%

Shares of NYSE MCN traded down $0.08 during trading on Friday, reaching $5.96. The company had a trading volume of 178,285 shares, compared to its average volume of 102,117. The business’s 50 day moving average price is $5.95 and its 200-day moving average price is $6.11. Madison Covered Call & Equity Strategy Fund has a 52 week low of $5.16 and a 52 week high of $6.72.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, January 30th. Shareholders of record on Thursday, January 15th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 12.1%.

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.