Madison Covered Call & Equity Strategy Fund (NYSE:MCN – Get Free Report) declared a monthly dividend on Tuesday, September 1st. Investors of record on Tuesday, September 15th will be paid a dividend of 0.06 per share by the investment management company on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 12.5%. The ex-dividend date of this dividend is Tuesday, September 15th.
Madison Covered Call & Equity Strategy Fund Stock Performance
Shares of NYSE:MCN traded up $0.01 during mid-day trading on Wednesday, hitting $5.74. The company had a trading volume of 1,861 shares, compared to its average volume of 66,440. Madison Covered Call & Equity Strategy Fund has a one year low of $5.46 and a one year high of $6.39. The firm has a fifty day moving average price of $5.61 and a 200 day moving average price of $5.79.
Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MCN. Absolute Investment Advisers LLC boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 6.1% in the first quarter. Absolute Investment Advisers LLC now owns 567,061 shares of the investment management company’s stock worth $3,306,000 after acquiring an additional 32,418 shares during the period. Wells Fargo & Company MN increased its position in shares of Madison Covered Call & Equity Strategy Fund by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock valued at $2,712,000 after buying an additional 5,773 shares during the period. Invesco Ltd. bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the second quarter valued at about $1,305,000. Wolverine Asset Management LLC lifted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 83.3% in the fourth quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock worth $1,169,000 after buying an additional 88,517 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its position in shares of Madison Covered Call & Equity Strategy Fund by 4.3% in the third quarter. Raymond James Financial Inc. now owns 193,822 shares of the investment management company’s stock valued at $1,196,000 after acquiring an additional 7,916 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.
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