Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Shares of Madison Covered Call & Equity Strategy Fund (NYSE:MCN) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.13 and traded as low as $5.94. Madison Covered Call & Equity Strategy Fund shares last traded at $5.97, with a volume of 43,678 shares trading hands.

Madison Covered Call & Equity Strategy Fund Stock Performance

The firm’s 50-day simple moving average is $6.14 and its 200 day simple moving average is $6.13.

Madison Covered Call & Equity Strategy Fund Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Independent Wealth Network Inc. increased its position in shares of Madison Covered Call & Equity Strategy Fund by 4.0% during the 1st quarter. Independent Wealth Network Inc. now owns 52,590 shares of the investment management company’s stock worth $322,000 after purchasing an additional 2,028 shares during the last quarter. Centurion Wealth Management LLC grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 1.2% in the second quarter. Centurion Wealth Management LLC now owns 173,615 shares of the investment management company’s stock valued at $1,085,000 after buying an additional 2,130 shares in the last quarter. Royal Bank of Canada increased its holdings in Madison Covered Call & Equity Strategy Fund by 5.9% during the first quarter. Royal Bank of Canada now owns 44,179 shares of the investment management company’s stock worth $271,000 after buying an additional 2,447 shares during the last quarter. LPL Financial LLC increased its holdings in Madison Covered Call & Equity Strategy Fund by 1.2% during the first quarter. LPL Financial LLC now owns 242,701 shares of the investment management company’s stock worth $1,488,000 after buying an additional 2,979 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in Madison Covered Call & Equity Strategy Fund during the second quarter worth $27,000.

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.