Short Interest in Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Rises By 31.1%

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 80,500 shares, an increase of 31.1% from the September 15th total of 61,400 shares. Based on an average daily volume of 49,600 shares, the days-to-cover ratio is presently 1.6 days.

Madison Covered Call & Equity Strategy Fund Stock Up 0.1 %

Shares of NYSE:MCN traded up $0.01 during trading on Tuesday, reaching $7.08. The stock had a trading volume of 33,382 shares, compared to its average volume of 47,877. The firm’s 50-day simple moving average is $7.21 and its 200 day simple moving average is $7.21. Madison Covered Call & Equity Strategy Fund has a one year low of $6.71 and a one year high of $7.72.

Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its stake in shares of Madison Covered Call & Equity Strategy Fund by 83.0% in the second quarter. Commonwealth Equity Services LLC now owns 37,929 shares of the investment management company’s stock worth $288,000 after acquiring an additional 17,206 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Madison Covered Call & Equity Strategy Fund in the second quarter worth about $26,000. World Equity Group Inc. raised its position in Madison Covered Call & Equity Strategy Fund by 2.0% during the second quarter. World Equity Group Inc. now owns 90,746 shares of the investment management company’s stock valued at $690,000 after acquiring an additional 1,755 shares in the last quarter. Independent Wealth Network Inc. lifted its holdings in Madison Covered Call & Equity Strategy Fund by 5.7% in the first quarter. Independent Wealth Network Inc. now owns 42,910 shares of the investment management company’s stock valued at $314,000 after acquiring an additional 2,318 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 130.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 27,470 shares of the investment management company’s stock worth $201,000 after purchasing an additional 15,556 shares during the period.

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.