Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Passes Above 50 Day Moving Average – What’s Next?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) passed above its 50 day moving average during trading on Thursday . The stock has a 50 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 traded.

Madison Covered Call & Equity Strategy Fund Price Performance

The firm has a fifty day moving average of $5.86 and a 200 day moving average of $5.95.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 12.3%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Shaker Financial Services LLC lifted its holdings in Madison Covered Call & Equity Strategy Fund by 27.9% in the fourth quarter. Shaker Financial Services LLC now owns 684,108 shares of the investment management company’s stock valued at $4,105,000 after acquiring an additional 149,272 shares during the period. Absolute Investment Advisers LLC lifted its holdings in Madison Covered Call & Equity Strategy Fund by 6.1% in the first quarter. Absolute Investment Advisers LLC now owns 567,061 shares of the investment management company’s stock valued at $3,306,000 after acquiring an additional 32,418 shares during the period. Wells Fargo & Company MN lifted its holdings in Madison Covered Call & Equity Strategy Fund by 1.3% in the fourth quarter. Wells Fargo & Company MN now owns 452,083 shares of the investment management company’s stock valued at $2,712,000 after acquiring an additional 5,773 shares during the period. Invesco Ltd. bought a new position in Madison Covered Call & Equity Strategy Fund in the second quarter valued at about $1,305,000. Finally, Wolverine Asset Management LLC lifted its holdings in Madison Covered Call & Equity Strategy Fund by 83.3% in the fourth quarter. Wolverine Asset Management LLC now owns 194,784 shares of the investment management company’s stock valued at $1,169,000 after acquiring an additional 88,517 shares during the period.

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.