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

Shares of Madison Covered Call & Equity Strategy Fund (NYSE:MCN) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.86 and traded as high as $5.86. Madison Covered Call & Equity Strategy Fund shares last traded at $5.85, with a volume of 70,906 shares.

Madison Covered Call & Equity Strategy Fund Stock Up 0.3%

The company has a fifty day simple moving average of $5.86 and a 200 day simple moving average of $5.95.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be issued a $0.06 dividend. This represents a c) annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend is Friday, May 15th.

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

Several hedge funds have recently added to or reduced their stakes in the stock. Axiom Investment Management LLC bought a new stake in Madison Covered Call & Equity Strategy Fund in the first quarter worth $25,000. World Equity Group Inc. boosted its holdings in Madison Covered Call & Equity Strategy Fund by 2.4% in the first quarter. World Equity Group Inc. now owns 113,928 shares of the investment management company’s stock worth $664,000 after acquiring an additional 2,698 shares in the last quarter. Procyon Advisors LLC boosted its holdings in Madison Covered Call & Equity Strategy Fund by 4.6% in the first quarter. Procyon Advisors LLC now owns 51,686 shares of the investment management company’s stock worth $301,000 after acquiring an additional 2,265 shares in the last quarter. Arlington Capital Management Inc. boosted its holdings in Madison Covered Call & Equity Strategy Fund by 8.1% in the first quarter. Arlington Capital Management Inc. now owns 26,834 shares of the investment management company’s stock worth $156,000 after acquiring an additional 2,004 shares in the last quarter. Finally, Fifth Third Bancorp bought a new stake in Madison Covered Call & Equity Strategy Fund in the first quarter worth $265,000.

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.