Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Price Passes Above 50-Day Moving Average – Time to Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.16 and traded as high as $6.27. Madison Covered Call & Equity Strategy Fund shares last traded at $6.26, with a volume of 72,193 shares.

Madison Covered Call & Equity Strategy Fund Stock Up 0.8%

The firm has a 50 day moving average price of $6.16 and a 200 day moving average price of $6.14.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, August 1st. Stockholders of record on Wednesday, July 16th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, July 15th. This represents a dividend yield of 11.37%.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 2nd quarter worth $27,000. Bank of New York Mellon Corp purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 1st quarter worth $104,000. Sowell Financial Services LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 1st quarter worth $126,000. AlphaCore Capital LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund in the 1st quarter worth $128,000. Finally, Wolverine Asset Management LLC increased its stake in Madison Covered Call & Equity Strategy Fund by 90.2% in the 1st quarter. Wolverine Asset Management LLC now owns 23,501 shares of the investment management company’s stock worth $144,000 after buying an additional 11,143 shares in the last quarter.

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.