Madison Covered Call & Equity Strategy Fund (NYSE:MCN – Get Rating) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 57,000 shares, a growth of 57.5% from the November 30th total of 36,200 shares. Based on an average daily trading volume, of 84,900 shares, the days-to-cover ratio is presently 0.7 days.
Madison Covered Call & Equity Strategy Fund Stock Down 0.5 %
Shares of MCN traded down $0.04 during trading hours on Friday, hitting $7.75. 66,494 shares of the stock were exchanged, compared to its average volume of 74,845. Madison Covered Call & Equity Strategy Fund has a 12-month low of $6.27 and a 12-month high of $8.31. The stock's 50-day moving average price is $7.59 and its two-hundred day moving average price is $7.26.
Get Madison Covered Call & Equity Strategy Fund alerts:Madison Covered Call & Equity Strategy Fund Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Friday, December 16th were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 9.29%. The ex-dividend date of this dividend was Thursday, December 15th.
Institutional Trading of Madison Covered Call & Equity Strategy Fund
Several large investors have recently added to or reduced their stakes in the stock. ELCO Management Co. LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 3rd quarter valued at $141,000. UBS Group AG grew its holdings in Madison Covered Call & Equity Strategy Fund by 1.1% in the 3rd quarter. UBS Group AG now owns 175,614 shares of the investment management company's stock valued at $1,135,000 after buying an additional 1,973 shares in the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 3rd quarter valued at $86,000. Raymond James & Associates grew its holdings in Madison Covered Call & Equity Strategy Fund by 17.5% in the 3rd quarter. Raymond James & Associates now owns 22,562 shares of the investment management company's stock valued at $146,000 after buying an additional 3,364 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Madison Covered Call & Equity Strategy Fund by 26.0% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 51,439 shares of the investment management company's stock valued at $332,000 after buying an additional 10,600 shares in the last quarter.About Madison Covered Call & Equity Strategy Fund
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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.
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