Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Share Price Crosses Below Two Hundred Day Moving Average – What’s Next?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN)’s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.01 and traded as low as $6.44. Madison Covered Call & Equity Strategy Fund shares last traded at $6.47, with a volume of 82,309 shares changing hands.

Madison Covered Call & Equity Strategy Fund Price Performance

The company’s fifty day simple moving average is $6.75 and its 200 day simple moving average is $7.01.

Hedge Funds Weigh In On Madison Covered Call & Equity Strategy Fund

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of Madison Covered Call & Equity Strategy Fund by 612.0% during the 3rd quarter. International Assets Investment Management LLC now owns 24,208 shares of the investment management company’s stock worth $172,000 after acquiring an additional 20,808 shares during the period. Consolidated Portfolio Review Corp bought a new stake in shares of Madison Covered Call & Equity Strategy Fund during the third quarter valued at approximately $611,000. D.A. Davidson & CO. purchased a new stake in Madison Covered Call & Equity Strategy Fund in the third quarter worth $213,000. L.M. Kohn & Company raised its holdings in 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 worth $157,000 after purchasing an additional 5,050 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Madison Covered Call & Equity Strategy Fund during the third quarter valued at $192,000.

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.