SEC Filing Coverage: Karpus Management, Inc Just Disclosed New Madison Strategic Sector Premium Fund Position

SEC Filing Coverage: Karpus Management, Inc Just Disclosed New Madison Strategic Sector Premium Fund Position

The New Karpus Management, Inc Holding in Madison Strategic Sector Premium Fund

Karpus Management, Inc filed with the SEC SC 13G/A form for Madison Strategic Sector Premium Fund. The form can be accessed here: 000104870316000143. As reported in Karpus Management, Inc’s form, the filler as of late owns 16.68% or 967,050 shares of the Finance–company.

Madison Strategic Sector Premium Fund stake is a new one for the for this institutional investor and it was filed because of activity on September 30, 2016. We feel this shows Karpus Management, Inc’s positive view for the stock. For a institutional investor managing $2.60 billion in assets and having 39+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.

Madison Strategic Sector Premium Fund Institutional Sentiment

Latest Security and Exchange filings show 23 investors own Madison Strategic Sector Premium Fund. The institutional ownership in Q3 2015 is low, at 24.64% of the outstanding shares. This is increased by 166796 the total institutional shares. 1428935 were the shares owned by these institutional investors. In total 4 funds opened new Madison Strategic Sector Premium Fund stakes, 7 increased stakes. There were 0 that closed positions and 10 reduced them.

1607 Capital Partners Llc is an institutional investor bullish on Madison Strategic Sector Premium Fund, owning 97141 shares as of Q3 2015 for 0.07% of its portfolio. Doliver Capital Advisors Inc owns 31427 shares or 0.25% of its portfolio. TN Independence Trust Co have 0.17% of their stock portfolio for 15149 shares. Further, Blue Bell Private Wealth Management Llc reported stake worth 0.13% of its US stock portfolio. The VA Shaker Financial Services Llc owns 19578 shares. Madison Strategic Sector Premium Fund is 0.16% of the manager’s US portfolio.

Business Profile

Madison Strategic Sector Premium Fund (MSP) is a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide a high level of current income and current gains, with a secondary objective of long-term capital appreciation. The Fund focuses on pursuing its investment objectives by investing primarily in large and mid-capitalization common stocks. Under normal market conditions, the Fund seeks to generate earnings from option premiums by writing (selling) covered call options on a substantial portion of its portfolio securities. The Fund invests in sectors, such as consumer discretionary, consumer staples, energy, financials, healthcare, industrials, information technology, telecommunication services, exchange-traded funds and the United States Government and agency obligations. It also makes short-term investments, which include put options purchased. Madison Asset Management, LLC serves as the investment advisor of the Fund.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Karpus Management, Inc website.

Insitutional Activity: The institutional sentiment increased to 1.25 in 2016 Q2. Its up 0.14, from 1.11 in 2016Q1. The ratio is positive, as 3 funds sold all Madison Strategic Sector Premium Fund shares owned while 5 reduced positions. 3 funds bought stakes while 7 increased positions. They now own 1.89 million shares or 6.43% more from 1.78 million shares in 2016Q1.

Tower Rech Limited Liability (Trc) owns 600 shares or 0% of their US portfolio. The Virginia-based 1607 Prns Llc has invested 0.06% in Madison Strategic Sector Premium Fund (NYSE:MSP). Morgan Stanley holds 376,899 shares or 0% of its portfolio. Wells Fargo And Mn holds 0% of its portfolio in Madison Strategic Sector Premium Fund (NYSE:MSP) for 45,757 shares. Royal Natl Bank Of Canada, a Ontario – Canada-based fund reported 87,664 shares. Pnc Svcs Grp Inc, a Pennsylvania-based fund reported 820 shares. The New York-based Saba Capital Management L P has invested 0.03% in Madison Strategic Sector Premium Fund (NYSE:MSP). Ancora Advisors Limited Company has 0.25% invested in the company for 185,243 shares. Citigroup, a New York-based fund reported 15,097 shares. Moreover, Manufacturers Life Ins Com The has 0% invested in Madison Strategic Sector Premium Fund (NYSE:MSP) for 60 shares. Karpus Mngmt has invested 0.46% of its portfolio in Madison Strategic Sector Premium Fund (NYSE:MSP). Rivernorth Limited Liability Co has 165,767 shares for 0.12% of their US portfolio. Moreover, Raymond James Ser Advisors Inc has 0% invested in Madison Strategic Sector Premium Fund (NYSE:MSP) for 10,573 shares. Raymond James And Associates has 0% invested in the company for 80,275 shares. National Bank Of America De last reported 2,823 shares in the company.

The stock closed at $11.87 during the last session. It is down 6.65% since March 8, 2016 and is uptrending. It has underperformed by 2.67% the S&P500.

Madison Strategic Sector Premium Fund is a diversified, closed-end management investment company. The company has a market cap of $69.47 million. The Fund’s primary investment objective is to provide a high level of current income and current gains, with a secondary objective of long-term capital appreciation. It currently has negative earnings. The Fund focuses on pursuing its investment objectives by investing primarily in large and mid-capitalization common stocks.

More notable recent Madison Strategic Sector Premium Fund (NYSE:MSP) news were published by: Nasdaq.com which released: “Madison Strategic Sector Premium Fund (MSP) Ex-Dividend Date Scheduled for …” on September 13, 2016, also Marketwatch.com with their article: “Madison Strategic Sector Premium Fund (MSP) and Madison Covered Call and …” published on September 01, 2016, Marketwired.com published: “Madison Strategic Sector Premium Fund Corrects Announcement of Voting Results …” on September 23, 2016. More interesting news about Madison Strategic Sector Premium Fund (NYSE:MSP) were released by: Streetinsider.com and their article: “Form PX14A6G Madison Strategic Sector Filed by: Ancora Advisors, LLC” published on August 11, 2016 as well as Marketwired.com‘s news article titled: “Madison Asset Management Announces Postponement of the Reorganization of …” with publication date: June 08, 2016.

MSP Company Profile

Madison Strategic Sector Premium Fund (MSP) is a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide a current income and current gains, with a secondary objective of long-term capital appreciation. The Fund invests in a portfolio consisting primarily of common stocks of large and mid-capitalization issuers.

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