Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Price Crosses Above 50 Day Moving Average – Time to Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.95 and traded as high as $5.95. Madison Covered Call & Equity Strategy Fund shares last traded at $5.94, with a volume of 47,032 shares traded.

Madison Covered Call & Equity Strategy Fund Price Performance

The company has a 50-day moving average price of $5.95 and a 200-day moving average price of $6.12.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 12.1%.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. raised its holdings in Madison Covered Call & Equity Strategy Fund by 7.8% in the second quarter. Osaic Holdings Inc. now owns 836,592 shares of the investment management company’s stock worth $5,229,000 after purchasing an additional 60,626 shares during the period. Shaker Financial Services LLC grew its stake in Madison Covered Call & Equity Strategy Fund by 17.4% in the third quarter. Shaker Financial Services LLC now owns 534,836 shares of the investment management company’s stock valued at $3,332,000 after acquiring an additional 79,356 shares during the period. Invesco Ltd. bought a new stake in shares of Madison Covered Call & Equity Strategy Fund in the second quarter worth about $1,305,000. Absolute Investment Advisers LLC raised its position in shares of Madison Covered Call & Equity Strategy Fund by 348.9% during the second quarter. Absolute Investment Advisers LLC now owns 203,355 shares of the investment management company’s stock worth $1,271,000 after purchasing an additional 158,055 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 4.3% during the 3rd quarter. Raymond James Financial Inc. now owns 193,822 shares of the investment management company’s stock valued at $1,196,000 after purchasing an additional 7,916 shares in the last quarter.

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.