Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Short Interest Up 138.4% in February

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 29,800 shares, an increase of 138.4% from the February 13th total of 12,500 shares. Based on an average trading volume of 61,300 shares, the short-interest ratio is currently 0.5 days.

Madison Covered Call & Equity Strategy Fund Price Performance

Shares of MCN stock traded up $0.06 during midday trading on Friday, reaching $6.29. 38,624 shares of the company traded hands, compared to its average volume of 59,537. The firm’s 50 day simple moving average is $6.50 and its two-hundred day simple moving average is $6.85. Madison Covered Call & Equity Strategy Fund has a 1-year low of $6.23 and a 1-year high of $7.72.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 11.46%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Shaker Financial Services LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter worth approximately $1,296,000. Raymond James Financial Inc. acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter worth approximately $1,555,000. Wells Fargo & Company MN raised its position in shares of Madison Covered Call & Equity Strategy Fund by 2.5% during the 4th quarter. Wells Fargo & Company MN now owns 110,655 shares of the investment management company’s stock worth $742,000 after purchasing an additional 2,663 shares during the last quarter. World Equity Group Inc. raised its position in shares of Madison Covered Call & Equity Strategy Fund by 108.1% during the 4th quarter. World Equity Group Inc. now owns 190,616 shares of the investment management company’s stock worth $1,279,000 after purchasing an additional 99,035 shares during the last quarter. Finally, Wolverine Asset Management LLC raised its position in shares of Madison Covered Call & Equity Strategy Fund by 319.1% during the 4th quarter. Wolverine Asset Management LLC now owns 12,358 shares of the investment management company’s stock worth $83,000 after purchasing an additional 9,409 shares during the last quarter.

About Madison Covered Call & Equity Strategy Fund

Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.