Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Shares Cross Below 200-Day Moving Average – Time to Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.07 and traded as low as $6.05. Madison Covered Call & Equity Strategy Fund shares last traded at $6.12, with a volume of 59,157 shares.

Madison Covered Call & Equity Strategy Fund Price Performance

The firm has a 50-day moving average of $6.06 and a 200-day moving average of $6.07.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Tuesday, February 17th.

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

Large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Madison Covered Call & Equity Strategy Fund by 5.9% in the 1st quarter. Royal Bank of Canada now owns 44,179 shares of the investment management company’s stock worth $271,000 after buying an additional 2,447 shares during the period. Independent Wealth Network Inc. boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 6.3% in the 3rd quarter. Independent Wealth Network Inc. now owns 59,132 shares of the investment management company’s stock valued at $365,000 after acquiring an additional 3,521 shares during the last quarter. World Equity Group Inc. increased its stake in shares of Madison Covered Call & Equity Strategy Fund by 4.9% in the third quarter. World Equity Group Inc. now owns 104,173 shares of the investment management company’s stock worth $643,000 after acquiring an additional 4,910 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Madison Covered Call & Equity Strategy Fund by 1.3% during the fourth quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock worth $2,712,000 after purchasing an additional 5,773 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Madison Covered Call & Equity Strategy Fund during the fourth quarter valued at $37,000.

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.