Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

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 changing hands.

Madison Covered Call & Equity Strategy Fund Stock Up 0.3%

The company has a 50 day moving average price of $6.14 and a 200-day moving average price of $6.13.

Madison Covered Call & Equity Strategy Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $0.06 dividend. This represents a c) dividend on an annualized basis and a yield of 12.1%. The ex-dividend date is Monday, November 17th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the 2nd quarter valued at approximately $1,305,000. Shaker Financial Services LLC lifted its stake in Madison Covered Call & Equity Strategy Fund by 85.3% in the 1st quarter. Shaker Financial Services LLC now owns 358,126 shares of the investment management company’s stock valued at $2,264,000 after purchasing an additional 164,909 shares during the last quarter. Absolute Investment Advisers LLC boosted its position in Madison Covered Call & Equity Strategy Fund by 348.9% in the second quarter. Absolute Investment Advisers LLC now owns 203,355 shares of the investment management company’s stock valued at $1,271,000 after buying an additional 158,055 shares in the last quarter. Wolverine Asset Management LLC grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 2,049.0% during the third quarter. Wolverine Asset Management LLC now owns 106,267 shares of the investment management company’s stock worth $656,000 after buying an additional 101,322 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in shares of Madison Covered Call & Equity Strategy Fund by 7.8% during the second quarter. Osaic Holdings Inc. now owns 836,592 shares of the investment management company’s stock worth $5,229,000 after buying an additional 60,626 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.