Notable Stock to Watch: The Madison Covered Call and Equity Strategy Fund (NYSE:MCN)

The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) changed 0.16% to recent value of $6.41. The stock transacted 46560 shares during most recent day however it has an average volume of 62.03K shares. It spotted trading -19.27% off 52-week high price. On the other end, the stock has been noted 11.99% away from the low price over the last 52-weeks.

On Sept. 03, 2019, The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) notified its quarterly dividend of $0.18/share.The dividends will be payable September 30, 2019 to shareholders of record on September 18, 2019. The ex-dividend date will be September 17, 2019. If it is determined that a notification is required pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund’s website after the close of business three business days before the payable date. If a distribution rate is largely comprised of sources other than income, it may not reflect Fund performance.

The Fund’s objective is to achieve a high level of current income and current capital gains, with long-term capital appreciation as a secondary objective. The Fund intends to pursue its objective by investing in a portfolio of common stocks and utilizing an option strategy, primarily by writing (selling) covered call options on a substantial portion of the common stocks in the portfolio in order to generate current income and gains from option writing premiums and, to a lesser extent, from dividends. Market action can impact dividend issuance as significant decreases or increases in the Fund’s total assets affect the Fund’s future dividend prospects.

 The company has 20.95M of outstanding shares.  The price moved ahead of 1.38% from the mean of 20 days, -0.82% from mean of 50 days SMA and performed -3.32% from mean of 200 days price. Company’s performance for the week was 1.91%, 0.16% for month and YTD performance remained 4.06%.

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