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 decline in short interest during the month of May. As of May 29th, there was short interest totaling 16,609 shares, a decline of 48.7% from the May 14th total of 32,380 shares. Based on an average daily trading volume, of 54,686 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Madison Covered Call & Equity Strategy Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Arlington Capital Management Inc. increased its position in shares of 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 purchasing an additional 2,004 shares during the last quarter. Procyon Advisors LLC increased its position in shares of Madison Covered Call & Equity Strategy Fund by 4.6% during the 1st quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock valued at $301,000 after purchasing an additional 2,265 shares during the last quarter. Royal Bank of Canada increased its position in shares of Madison Covered Call & Equity Strategy Fund by 5.9% during the 1st quarter. Royal Bank of Canada now owns 44,179 shares of the investment management company’s stock valued at $271,000 after purchasing an additional 2,447 shares during the last quarter. World Equity Group Inc. increased its position in shares of Madison Covered Call & Equity Strategy Fund by 2.4% during the 1st quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock valued at $664,000 after purchasing an additional 2,698 shares during the last quarter. Finally, Independent Wealth Network Inc. increased its position in shares of Madison Covered Call & Equity Strategy Fund by 6.6% during the 4th quarter. Independent Wealth Network Inc. now owns 63,039 shares of the investment management company’s stock valued at $378,000 after purchasing an additional 3,907 shares during the last quarter.

Madison Covered Call & Equity Strategy Fund Price Performance

Shares of NYSE:MCN opened at $5.71 on Tuesday. Madison Covered Call & Equity Strategy Fund has a fifty-two week low of $5.65 and a fifty-two week high of $6.39. The business has a 50-day simple moving average of $5.87 and a two-hundred day simple moving average of $5.94.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 12.6%.

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.