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

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $6.91 and traded as low as $6.65. Madison Covered Call & Equity Strategy Fund shares last traded at $6.69, with a volume of 116,636 shares changing hands.

Madison Covered Call & Equity Strategy Fund Trading Down 0.7 %

The business has a 50-day moving average of $6.91 and a 200 day moving average of $7.10.

Institutional Trading of Madison Covered Call & Equity Strategy Fund

A number of hedge funds have recently bought and sold shares of MCN. Consolidated Portfolio Review Corp bought a new stake in Madison Covered Call & Equity Strategy Fund during the third quarter valued at about $611,000. Commonwealth Equity Services LLC lifted its position in shares of Madison Covered Call & Equity Strategy Fund by 83.0% in the second quarter. Commonwealth Equity Services LLC now owns 37,929 shares of the investment management company’s stock worth $288,000 after buying an additional 17,206 shares in the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Madison Covered Call & Equity Strategy Fund in the third quarter worth about $213,000. Jane Street Group LLC purchased a new stake in Madison Covered Call & Equity Strategy Fund during the third quarter valued at approximately $192,000. Finally, International Assets Investment Management LLC raised its position in Madison Covered Call & Equity Strategy Fund by 612.0% during the third quarter. International Assets Investment Management LLC now owns 24,208 shares of the investment management company’s stock valued at $172,000 after purchasing an additional 20,808 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.