Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Shares Pass Above 50 Day Moving Average – What’s Next?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s stock price crossed 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 traded.

Madison Covered Call & Equity Strategy Fund Stock Up 0.1%

The company’s 50 day moving average is $6.00 and its 200 day moving average is $6.08.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 17th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.9%.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of institutional investors have recently bought and sold shares of MCN. Ameritas Advisory Services LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the second quarter valued at $27,000. International Assets Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the 4th quarter valued at about $43,000. Bank of America Corp DE purchased a new position in Madison Covered Call & Equity Strategy Fund during the 2nd quarter valued at about $48,000. Tactive Advisors LLC acquired a new position in Madison Covered Call & Equity Strategy Fund during the third quarter worth about $71,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Madison Covered Call & Equity Strategy Fund in the second quarter valued at about $88,000.

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.