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

Shares of Madison Covered Call & Equity Strategy Fund (NYSE:MCN) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.00 and traded as high as $6.17. Madison Covered Call & Equity Strategy Fund shares last traded at $6.1550, with a volume of 118,171 shares trading hands.

Madison Covered Call & Equity Strategy Fund Price Performance

The business’s fifty day moving average price is $6.00 and its 200 day moving average price is $6.08.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.24 annualized dividend and a dividend yield of 3.9%.

Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund

Institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in Madison Covered Call & Equity Strategy Fund by 7.8% during the 2nd quarter. Osaic Holdings Inc. now owns 836,592 shares of the investment management company’s stock worth $5,229,000 after acquiring an additional 60,626 shares during the period. Shaker Financial Services LLC raised its stake in shares of Madison Covered Call & Equity Strategy Fund by 27.9% during the fourth quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock worth $4,105,000 after purchasing an additional 149,272 shares during the last quarter. Absolute Investment Advisers LLC lifted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 174.0% during the fourth quarter. Absolute Investment Advisers LLC now owns 534,643 shares of the investment management company’s stock worth $3,256,000 after purchasing an additional 339,488 shares during the period. Invesco Ltd. purchased a new position in Madison Covered Call & Equity Strategy Fund in the 2nd quarter valued at $1,305,000. Finally, Wolverine Asset Management LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 83.3% in the 4th quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock valued at $1,169,000 after buying an additional 88,517 shares during the period.

Madison Covered Call & Equity Strategy Fund Company Profile

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.