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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the recipient of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 16,800 shares, a decline of 63.1% from the February 12th total of 45,568 shares. Based on an average daily trading volume, of 63,015 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 63,015 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MCN. Kestra Advisory Services LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund in the fourth quarter valued at approximately $37,000. International Assets Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund during the 4th quarter worth approximately $43,000. Bank of America Corp DE acquired a new stake in Madison Covered Call & Equity Strategy Fund during the 2nd quarter worth approximately $48,000. Jane Street Group LLC purchased a new position in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at approximately $67,000. Finally, Tactive Advisors LLC purchased a new position in Madison Covered Call & Equity Strategy Fund in the 3rd quarter valued at approximately $71,000.

Madison Covered Call & Equity Strategy Fund Price Performance

MCN opened at $5.94 on Wednesday. The stock’s 50-day moving average price is $6.06 and its 200 day moving average price is $6.06. Madison Covered Call & Equity Strategy Fund has a 12-month low of $5.16 and a 12-month high of $6.39.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 12.1%. The ex-dividend date of this dividend is Monday, March 16th.

Madison Covered Call & Equity Strategy Fund Company Profile

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.