Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.88 and traded as low as $5.57. Madison Covered Call & Equity Strategy Fund shares last traded at $5.5990, with a volume of 47,814 shares trading hands.

Madison Covered Call & Equity Strategy Fund Stock Down 0.0%

The business has a 50 day simple moving average of $5.70 and a 200 day simple moving average of $5.88.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 12.9%.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Axiom Investment Management LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the 1st quarter worth $25,000. Kestra Advisory Services LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund in the 4th quarter worth $37,000. International Assets Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund during the 4th quarter valued at $43,000. Bank of America Corp DE bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the second quarter worth about $48,000. Finally, Jane Street Group LLC bought a new stake in Madison Covered Call & Equity Strategy Fund in the fourth quarter valued at about $67,000.

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.