Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
02 August 2004Website:
http://www.madisonfunds.comNext earnings report:
N/ALast dividends:
14 June 2024Next dividends:
N/APrice
regular market | 59 min agoAnalysts recommendations
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MCN Latest News
MADISON, Wis., June 03, 2024 (GLOBE NEWSWIRE) -- The Madison Covered Call and Equity Strategy Fund (NYSE:MCN) (the “Fund”) declares its quarterly dividend of $0.18/share. The dividends will be payable June 28, 2024, to shareholders of record on June 14, 2024. The ex-dividend date will be June 14, 2024. 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.
Madison Covered Call and Equity Strategy Fund has experienced a decrease in its premium since our last update. MCN's portfolio has transitioned to a value-focused strategy, with healthcare, financials, and energy as the main allocations alongside a significant cash position. While the fund's valuation has improved, I believe there are more attractive call-writing alternatives available in the current market.
Madison Covered Call and Equity Strategy Fund has delivered strong performance compared to the benchmark, despite following a more value-oriented strategy. MCN offers diversification for investors with heavy exposure to stock indexes like the S&P 500 while yielding nearly 10%. The Fund's stable distribution policy and low exposure to the technology sector make it an attractive investment option.
The Madison Covered Call and Equity Strategy Fund offers a 9.92% yield, higher than most equity funds. The MCN closed-end fund has slightly underperformed the S&P 500 Index in the past two months but has a higher yield. The MCN fund's covered call options strategy provides income but sacrifices some upside potential in a strong bull market.
The Madison Covered Call and Equity Strategy Fund offers a high level of income and potential for upside compared to fixed-income funds. The MCN closed-end fund has underperformed the S&P 500 Index over the past two months, but its distribution partially offsets share price declines. The fund employs a strategy of writing covered calls on stocks in its portfolio to generate income, resulting in a higher yield than peer funds.
The rapidly rising cost of living has strained the budgets of many Americans. Wages have not kept up with the rising prices, forcing people to see alternative sources of income to maintain their lifestyles. Madison Covered Call and Equity Strategy Fund offers a high level of current income and gains through a covered call strategy.
MCN has been able to reduce losses relative to the market. This would be thanks to its call-writing strategy plus holding a significant portion of its portfolio in money markets.
What type of business is 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. The fund primarily invests in reasonably priced growth (GARP) stocks of large and mid-cap companies. It also writes covered call options to make its investments. The fund employs fundamental analysis with a bottom-up stock picking approach, focusing on such factors as PEG ratios (price-earnings ratio to growth rate), financial strength, and industry leadership to create its portfolio. It benchmarks the performance of its portfolio against the CBOE S&P 500 Buy/Write Index. The fund conducts in-house research to make its investments. It was formerly known as Madison/Claymore Covered Call & Equity Strategy Fund. Madison Covered Call & Equity Strategy Fund was formed on May 6, 2004 and is domiciled in the United States.
What sector is Madison Covered Call & Equity Strategy Fund in?
Madison Covered Call & Equity Strategy Fund is in the Financial Services sector
What industry is Madison Covered Call & Equity Strategy Fund in?
Madison Covered Call & Equity Strategy Fund is in the Asset Management industry
What country is Madison Covered Call & Equity Strategy Fund from?
Madison Covered Call & Equity Strategy Fund is headquartered in United States
When did Madison Covered Call & Equity Strategy Fund go public?
Madison Covered Call & Equity Strategy Fund initial public offering (IPO) was on 02 August 2004
What is Madison Covered Call & Equity Strategy Fund website?
https://www.madisonfunds.com/individual/madison-covered-call-and-equity-strategy-fund
Is Madison Covered Call & Equity Strategy Fund in the S&P 500?
No, Madison Covered Call & Equity Strategy Fund is not included in the S&P 500 index
Is Madison Covered Call & Equity Strategy Fund in the NASDAQ 100?
No, Madison Covered Call & Equity Strategy Fund is not included in the NASDAQ 100 index
Is Madison Covered Call & Equity Strategy Fund in the Dow Jones?
No, Madison Covered Call & Equity Strategy Fund is not included in the Dow Jones index
When does Madison Covered Call & Equity Strategy Fund report earnings?
Next earnings report date is not announced yet