Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Price Passes 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 $6.00 and traded as low as $5.84. Madison Covered Call & Equity Strategy Fund shares last traded at $5.8450, with a volume of 46,791 shares changing hands.

Madison Covered Call & Equity Strategy Fund Trading Down 0.8%

The company’s 50-day simple moving average is $5.97 and its 200-day simple moving average is $6.00.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 12.3%. The ex-dividend date of this dividend is Wednesday, April 15th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MCN. Kestra Advisory Services LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund during the fourth quarter worth $37,000. International Assets Investment Management LLC acquired a new position in shares of Madison Covered Call & Equity Strategy Fund in the fourth quarter valued at approximately $43,000. Bank of America Corp DE acquired a new position in shares of Madison Covered Call & Equity Strategy Fund in the second quarter valued at approximately $48,000. Jane Street Group LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the fourth quarter valued at $67,000. Finally, Tactive Advisors LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the third quarter valued at $71,000.

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.