Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $6.94 and traded as low as $6.42. Madison Covered Call & Equity Strategy Fund shares last traded at $6.44, with a volume of 70,342 shares changing hands.

Madison Covered Call & Equity Strategy Fund Stock Down 0.5 %

The firm has a 50 day simple moving average of $6.60 and a two-hundred day simple moving average of $6.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wolverine Asset Management LLC raised its position in shares of Madison Covered Call & Equity Strategy Fund by 319.1% during the fourth quarter. Wolverine Asset Management LLC now owns 12,358 shares of the investment management company’s stock worth $83,000 after purchasing an additional 9,409 shares during the period. Virtu Financial LLC bought a new position in Madison Covered Call & Equity Strategy Fund in the third quarter valued at approximately $86,000. L.M. Kohn & Company boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 29.7% in the third quarter. L.M. Kohn & Company now owns 22,059 shares of the investment management company’s stock valued at $157,000 after buying an additional 5,050 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Madison Covered Call & Equity Strategy Fund by 612.0% in 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 buying an additional 20,808 shares during the period. Finally, Jane Street Group LLC bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the third quarter worth $192,000.

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.