Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.77 and traded as low as $6.07. Madison Covered Call & Equity Strategy Fund shares last traded at $6.09, with a volume of 87,616 shares.

Madison Covered Call & Equity Strategy Fund Trading Down 1.1 %

The stock’s fifty day moving average price is $6.40 and its 200 day moving average price is $6.77.

Madison Covered Call & Equity Strategy Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.82%. The ex-dividend date of this dividend is Monday, March 17th.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of institutional investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. boosted its position in Madison Covered Call & Equity Strategy Fund by 715.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 242,496 shares of the investment management company’s stock worth $1,627,000 after purchasing an additional 212,745 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Madison Covered Call & Equity Strategy Fund in the fourth quarter worth approximately $1,555,000. Shaker Financial Services LLC bought a new stake in Madison Covered Call & Equity Strategy Fund during the fourth quarter valued at approximately $1,296,000. World Equity Group Inc. increased its holdings in Madison Covered Call & Equity Strategy Fund by 108.1% during the fourth quarter. World Equity Group Inc. now owns 190,616 shares of the investment management company’s stock valued at $1,279,000 after buying an additional 99,035 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Madison Covered Call & Equity Strategy Fund by 2.5% in the fourth quarter. Wells Fargo & Company MN now owns 110,655 shares of the investment management company’s stock worth $742,000 after acquiring an additional 2,663 shares during the period.

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.