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) shares crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.82 and traded as low as $6.12. Madison Covered Call & Equity Strategy Fund shares last traded at $6.21, with a volume of 56,476 shares traded.

Madison Covered Call & Equity Strategy Fund Stock Performance

The business has a 50-day moving average of $6.45 and a two-hundred day moving average of $6.81.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 11.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 319.1% during the fourth quarter. Wolverine Asset Management LLC now owns 12,358 shares of the investment management company’s stock worth $83,000 after acquiring an additional 9,409 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Madison Covered Call & Equity Strategy Fund during the 3rd quarter valued at about $86,000. L.M. Kohn & Company lifted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 29.7% in the 3rd quarter. L.M. Kohn & Company now owns 22,059 shares of the investment management company’s stock valued at $157,000 after buying an additional 5,050 shares during the period. Jane Street Group LLC purchased a new stake in shares of Madison Covered Call & Equity Strategy Fund in the third quarter worth about $192,000. Finally, Stratos Wealth Partners LTD. grew its holdings in Madison Covered Call & Equity Strategy Fund by 40.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 29,158 shares of the investment management company’s stock worth $196,000 after acquiring an additional 8,441 shares during the period.

About Madison Covered Call & Equity Strategy Fund

Madison Covered Call & Equity Strategy Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors.