Waitlist - Limiting Size

Hi - I have the good fortune of administering a few matches that routinely sell out the day they open for registration. We have waitlist enabled and in some cases get more people on the waitlist then we have registered.

Is there a way to limit the number of people on the waitlist or close the waitlist while still maintaining all other pre-match functionality for those registered and waitlisted to change info on their registration?

Thanks