Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Shares Pass Below 200-Day Moving Average – Should You Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.82 and traded as low as $6.12. Madison Covered Call & Equity Strategy Fund shares last traded at $6.21, with a volume of 56,476 shares changing hands.

Madison Covered Call & Equity Strategy Fund Price Performance

The business’s 50-day moving average price is $6.46 and its 200-day moving average price is $6.82.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.59%. The ex-dividend date of this dividend is Monday, March 17th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC raised its holdings in shares of Madison Covered Call & Equity Strategy Fund by 5.2% in the fourth quarter. Private Advisor Group LLC now owns 48,825 shares of the investment management company’s stock worth $328,000 after buying an additional 2,403 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Madison Covered Call & Equity Strategy Fund by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 110,655 shares of the investment management company’s stock valued at $742,000 after acquiring an additional 2,663 shares during the period. D.A. Davidson & CO. raised its stake in Madison Covered Call & Equity Strategy Fund by 9.4% in the 4th quarter. D.A. Davidson & CO. now owns 32,721 shares of the investment management company’s stock worth $220,000 after acquiring an additional 2,818 shares during the last quarter. Consolidated Portfolio Review Corp lifted its position in Madison Covered Call & Equity Strategy Fund by 4.2% during the 4th quarter. Consolidated Portfolio Review Corp now owns 89,390 shares of the investment management company’s stock worth $600,000 after acquiring an additional 3,576 shares during the period. Finally, L.M. Kohn & Company grew its stake in Madison Covered Call & Equity Strategy Fund by 29.7% during the 3rd quarter. L.M. Kohn & Company now owns 22,059 shares of the investment management company’s stock valued at $157,000 after purchasing an additional 5,050 shares during the last quarter.

About Madison Covered Call & Equity Strategy Fund

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.