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The blazar Markarian 501 (Mrk 501) was observed above 100 GeV with the MAGICTelescope during May, June and July 2005. The high sensitivity of theinstrument made possible the detection of the source with high significance ineach of the observing nights. During this observational campaign, the emittedgamma-ray flux from Mkn 501 was found to vary by one order of magnitude, andshowed a high correlation with spectral changes. Intra-night flux variabilitywas also observed, with flux-doubling times of ~2 minutes. The data showed aclear evidence of a spectral peak (in the nuFnu representation) during thenights when the gamma-ray activity was highest. The location of this spectralfeature was found to be correlated with the emitted gamma-ray flux. In theseproceedings we discuss some of the results of this unprecedented spectral andtemporal analysis of Mrk 501 observations in the very high energy range.

Study of the Flux and Spectral Variations in the VHE Emission from the Blazar Markarian 501, with the MAGIC Telescope