Madison Covered Call and Equity Strategy Fund (MCN) Announces Correction to the Net Asset Value “NAV”
22 Giugno 2022 - 10:30PM
The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) (the
“Fund”) announces that the NAV for the Fund was overstated $0.04
for the period June 15-21 due to an administrative error. The
originally reported NAV’s and the correct NAV’s are as follows:
|
Original |
Corrected |
|
NAV |
NAV |
15-Jun |
$6.88 |
$6.84 |
16-Jun |
$6.69 |
$6.65 |
17-Jun |
$6.69 |
$6.65 |
21-Jun |
$6.80 |
$6.76 |
The Fund’s objective is to achieve a high level of current
income and current capital gains, with long-term capital
appreciation as a secondary objective. The Fund intends to pursue
its objective by investing in a portfolio of common stocks and
utilizing an option strategy, primarily by writing (selling)
covered call options on a substantial portion of the common stocks
in the portfolio in order to generate current income and gains from
option writing premiums and, to a lesser extent, from dividends.
Market action can impact dividend issuance as significant decreases
or increases in the Fund’s total assets affect the Fund’s future
dividend prospects. The Fund provides additional
information on its website at www.madisonfunds.com.
Certain statements in this release are forward-looking. The
Fund’s actual results may differ from current expectations or
projections due to numerous factors, including but not limited to
changes in the equity markets, changes in the portfolio’s value,
economic and political conditions and other risks generally
discussed in the Fund’s filings with the SEC. Neither the Fund nor
Madison undertakes any obligation to publicly update or revise any
forward-looking statements.
“Madison” and/or “Madison Investments” is the unifying tradename
of Madison Investment Holdings, Inc., Madison Asset Management, LLC
(“MAM”), and Madison Investment Advisors, LLC (“MIA”), which also
includes the Madison Scottsdale office. MAM and MIA are registered
as investment advisers with the U.S. Securities and Exchange
Commission. Madison Funds are distributed by MFD Distributor, LLC.
MFD Distributor, LLC is registered with the U.S. Securities and
Exchange Commission as a broker-dealer and is a member firm of the
Financial Industry Regulatory Authority. The home office for each
firm listed above is 550 Science Drive, Madison, WI 53711.
Madison’s toll-free number is 800-767-0300.
CONTACT: Madison Greg Hoppe:
gregh@madisonadv.com800-368-3195
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