Madison Covered Call & Equity Strategy Fund
MCN
28 hedge funds and large institutions have $29.8M invested in Madison Covered Call & Equity Strategy Fund in 2013 Q3 according to their latest regulatory filings, with 6 funds opening new positions, 10 increasing their positions, 5 reducing their positions, and 3 closing their positions.
100% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 3
100% more repeat investments, than reductions
Existing positions increased: 10 | Existing positions reduced: 5
30% more capital invested
Capital invested by funds: $23M → $29.8M (+$6.8M)
8% more funds holding
Funds holding: 26 → 28 (+2)
4.45% more ownership
Funds ownership: 15.05% → 19.5% (+4.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FIMG
Financial & Investment Management Group
Traverse City,
Michigan
|
+$5.25M |
| 2 |
AAM
Advisors Asset Management
Monument,
Colorado
|
+$2.93M |
| 3 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$667K |
| 4 |
Morgan Stanley
New York
|
+$410K |
| 5 |
AA
Ancora Advisors
Cleveland,
Ohio
|
+$157K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
GFM
Gramercy Funds Management
Greenwich,
Connecticut
|
-$1.58M |
| 2 |
SFS
Shaker Financial Services
Arlington,
Virginia
|
-$517K |
| 3 |
Wells Fargo
San Francisco,
California
|
-$417K |
| 4 |
Invesco
Atlanta,
Georgia
|
-$304K |
| 5 |
WA
WFG Advisors
Dallas,
Texas
|
-$17K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
TJHA
26
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| $8K | – | – | – |
|
|
MFS
27
MSI Financial Services
Springfield,
Massachusetts
| $3K | +$3.08K | +383 | New |
|
|
DADC
28
D.A. Davidson & Co
Great Falls,
Montana
| $1K | – | – | – |
|
|
GFM
29
Gramercy Funds Management
Greenwich,
Connecticut
| – | -$1.58M | -199,654 | Closed |
|
|
WA
30
WFG Advisors
Dallas,
Texas
| – | -$17K | -2,100 | Closed |
|
31
Northwestern Mutual Wealth Management
Milwaukee,
Wisconsin
| – | -$8K | -1,000 | Closed |
|
MCN Hedge Fund Activity: Q3 2013 in Review
28 of the 3,085 institutional investors tracked by Wall St. Rank reported a position in Madison Covered Call & Equity Strategy Fund (MCN) for Q3 2013, worth a combined $29.8M — up 30% from $23M a quarter earlier.
Buyers outnumbered sellers: 6 funds opened new MCN positions and 3 closed out — a net gain of 3 holders — while 10 added to existing stakes and 5 trimmed.
The largest buyer was Financial & Investment Management Group, opening a new position worth an estimated $5.25M. The largest seller was Gramercy Funds Management, exiting entirely with an estimated $1.58M sold.
- 28 institutional investors held Madison Covered Call & Equity Strategy Fund (MCN) as of Q3 2013, up from 26 in Q2 2013.
- Funds reported $29.8M of Madison Covered Call & Equity Strategy Fund stock for Q3 2013, up 30% quarter-over-quarter.
- 6 funds opened new Madison Covered Call & Equity Strategy Fund positions in Q3 2013 and 3 closed out, a net change of +3 holders.
- The largest Madison Covered Call & Equity Strategy Fund buyer in Q3 2013 was Financial & Investment Management Group, an estimated $5.25M added.
- The largest Madison Covered Call & Equity Strategy Fund seller in Q3 2013 was Gramercy Funds Management, an estimated $1.58M sold.
Based on aggregated 13F filings for Q3 2013.