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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $6.14 and traded as low as $5.88. Madison Covered Call & Equity Strategy Fund shares last traded at $5.94, with a volume of 49,830 shares traded.

Madison Covered Call & Equity Strategy Fund Stock Performance

The firm has a 50 day moving average price of $6.04 and a 200 day moving average price of $6.14.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 12.1%.

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

A number of hedge funds have recently made changes to their positions in MCN. Ameritas Advisory Services LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the second quarter valued at approximately $27,000. Bank of America Corp DE acquired a new position in Madison Covered Call & Equity Strategy Fund during the 2nd quarter valued at about $48,000. Tactive Advisors LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the third quarter valued at about $71,000. Susquehanna International Group LLP purchased a new stake in Madison Covered Call & Equity Strategy Fund in the third quarter valued at about $87,000. Finally, Cetera Investment Advisers acquired a new stake in Madison Covered Call & Equity Strategy Fund in the second quarter worth about $88,000.

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.