Madison Covered Call & Equity Strategy Fund (NYSE:MCN) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Madison Covered Call & Equity Strategy Fund (NYSE:MCN) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.07 and traded as low as $6.65. Madison Covered Call & Equity Strategy Fund shares last traded at $6.67, with a volume of 32,893 shares traded.

Madison Covered Call & Equity Strategy Fund Trading Down 0.2 %

The company has a 50-day moving average price of $6.86 and a 200-day moving average price of $7.06.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Madison Covered Call & Equity Strategy Fund by 83.0% during the second quarter. Commonwealth Equity Services LLC now owns 37,929 shares of the investment management company’s stock worth $288,000 after purchasing an additional 17,206 shares in the last quarter. International Assets Investment Management LLC lifted its holdings 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 worth $172,000 after acquiring an additional 20,808 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in Madison Covered Call & Equity Strategy Fund in the third quarter valued at about $611,000. D.A. Davidson & CO. acquired a new position in Madison Covered Call & Equity Strategy Fund in the third quarter valued at about $213,000. Finally, L.M. Kohn & Company increased 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 worth $157,000 after acquiring an additional 5,050 shares in the last quarter.

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.