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

Shares of Madison Covered Call & Equity Strategy Fund (NYSE:MCN) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.83 and traded as low as $5.64. Madison Covered Call & Equity Strategy Fund shares last traded at $5.68, with a volume of 26,495 shares.

Madison Covered Call & Equity Strategy Fund Stock Performance

The firm’s fifty day moving average price is $5.61 and its 200 day moving average price is $5.83.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 1st. Investors of record on Monday, August 17th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) dividend on an annualized basis and a yield of 12.7%.

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

Several institutional investors have recently made changes to their positions in MCN. Tactive Advisors LLC increased its holdings in Madison Covered Call & Equity Strategy Fund by 40.1% in the second quarter. Tactive Advisors LLC now owns 16,958 shares of the investment management company’s stock worth $94,000 after buying an additional 4,855 shares during the last quarter. Axiom Investment Management LLC acquired a new stake in Madison Covered Call & Equity Strategy Fund in the first quarter valued at approximately $25,000. World Equity Group Inc. lifted its stake 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 valued at $664,000 after acquiring an additional 2,698 shares during the last quarter. Procyon Advisors LLC grew its position 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. Finally, Arlington Capital Management Inc. grew its position 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.

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.