Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Down 48.7% in May

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 16,609 shares, a drop of 48.7% from the May 14th total of 32,380 shares. Based on an average trading volume of 54,686 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of large investors have recently modified their holdings of the company. Axiom Investment Management LLC acquired a new stake in shares of Madison Covered Call & Equity Strategy Fund in the 1st quarter worth about $25,000. World Equity Group Inc. increased its holdings in shares of Madison Covered Call & Equity Strategy Fund by 2.4% in the 1st quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after acquiring an additional 2,698 shares during the period. Procyon Advisors LLC increased its holdings in shares of Madison Covered Call & Equity Strategy Fund by 4.6% in the 1st quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock worth $301,000 after acquiring an additional 2,265 shares during the period. Arlington Capital Management Inc. increased its stake in Madison Covered Call & Equity Strategy Fund by 8.1% during the 1st quarter. Arlington Capital Management Inc. now owns 26,834 shares of the investment management company’s stock valued at $156,000 after buying an additional 2,004 shares during the period. Finally, Fifth Third Bancorp acquired a new position in Madison Covered Call & Equity Strategy Fund during the 1st quarter valued at about $265,000.

Madison Covered Call & Equity Strategy Fund Stock Up 0.1%

Shares of MCN stock traded up $0.00 during trading hours on Friday, reaching $5.74. The stock had a trading volume of 49,650 shares, compared to its average volume of 70,335. Madison Covered Call & Equity Strategy Fund has a twelve month low of $5.65 and a twelve month high of $6.39. The firm has a 50-day simple moving average of $5.87 and a 200-day simple moving average of $5.94.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date of this dividend is Monday, June 15th.

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.