Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s share price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.88 and traded as low as $5.57. Madison Covered Call & Equity Strategy Fund shares last traded at $5.5990, with a volume of 47,814 shares traded.

Madison Covered Call & Equity Strategy Fund Stock Down 0.0%

The firm’s 50 day moving average price is $5.70 and its 200-day moving average price is $5.88.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 12.9%. The ex-dividend date of this dividend is Wednesday, July 15th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MCN. Axiom Investment Management LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 1st quarter worth approximately $25,000. Kestra Advisory Services LLC purchased a new position in Madison Covered Call & Equity Strategy Fund during the fourth quarter valued at approximately $37,000. International Assets Investment Management LLC purchased a new position in Madison Covered Call & Equity Strategy Fund during the fourth quarter valued at approximately $43,000. Bank of America Corp DE bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the second quarter worth approximately $48,000. Finally, Jane Street Group LLC bought a new position in shares of Madison Covered Call & Equity Strategy Fund in the fourth quarter worth approximately $67,000.

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.