Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Shares of Madison Covered Call & Equity Strategy Fund (NYSE:MCN) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.13 and traded as low as $5.94. Madison Covered Call & Equity Strategy Fund shares last traded at $5.97, with a volume of 43,678 shares.

Madison Covered Call & Equity Strategy Fund Stock Up 0.3%

The stock’s 50 day simple moving average is $6.14 and its two-hundred day simple moving average is $6.13.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $0.06 dividend. This represents a c) annualized dividend and a yield of 12.1%. The ex-dividend date of this dividend is Monday, November 17th.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

Several hedge funds and other institutional investors have recently modified their holdings of MCN. Ameritas Advisory Services LLC bought a new position in shares of Madison Covered Call & Equity Strategy Fund during the second quarter worth about $27,000. Bank of America Corp DE bought a new stake in Madison Covered Call & Equity Strategy Fund in the 2nd quarter valued at approximately $48,000. Tactive Advisors LLC acquired a new position in Madison Covered Call & Equity Strategy Fund during the 3rd quarter worth approximately $71,000. Cetera Investment Advisers acquired a new position in Madison Covered Call & Equity Strategy Fund during the 2nd quarter worth approximately $88,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Madison Covered Call & Equity Strategy Fund during the 1st quarter worth approximately $104,000.

Madison Covered Call & Equity Strategy Fund Company Profile

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.