Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s share price passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.86 and traded as high as $5.86. Madison Covered Call & Equity Strategy Fund shares last traded at $5.85, with a volume of 70,906 shares changing hands.

Madison Covered Call & Equity Strategy Fund Price Performance

The business’s 50 day moving average price is $5.87 and its 200-day moving average price is $5.95.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be paid a $0.06 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date is Friday, May 15th.

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

A number of institutional investors have recently modified their holdings of MCN. Axiom Investment Management LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 1st quarter valued at about $25,000. Kestra Advisory Services LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter valued at about $37,000. International Assets Investment Management LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter valued at about $43,000. Bank of America Corp DE bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter valued at about $48,000. Finally, Jane Street Group LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 4th quarter valued at about $67,000.

Madison Covered Call & Equity Strategy Fund Company Profile

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.