Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Shares Pass Below 200 Day Moving Average – What’s Next?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.97 and traded as low as $5.94. Madison Covered Call & Equity Strategy Fund shares last traded at $5.9550, with a volume of 32,620 shares.

Madison Covered Call & Equity Strategy Fund Stock Performance

The stock’s 50 day moving average price is $5.91 and its 200 day moving average price is $5.97.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date is Friday, May 15th.

Institutional Investors Weigh In On Madison Covered Call & Equity Strategy Fund

Hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at about $37,000. International Assets Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at about $43,000. Bank of America Corp DE acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 2nd quarter valued at about $48,000. Jane Street Group LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at about $67,000. Finally, Susquehanna International Group LLP acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 3rd quarter valued at about $87,000.

About Madison Covered Call & Equity Strategy Fund

Madison Covered Call & Equity Strategy Fund (NYSE: MCN) is a closed-end management investment company designed to provide investors with total return through a blend of current income and capital appreciation. Listed on the New York Stock Exchange, the Fund pursues its objective by investing primarily in equity securities of U.S. companies and employing an options overlay to enhance income generation.

The Fund’s investment approach centers on fundamental analysis to identify large- and mid-cap stocks with attractive risk/return profiles.