MCN Stock Summary and Trading Ideas (Madison Covered Call & Equity Strategy | NYSE:MCN)

The Fund’s primary investment objective is to provide a high level of current income and current gains, with a secondary objective of long-term capital appreciation. The Fund will pursue its investment objectives by investing primarily in large and mid-capitalization common stocks that are, in the view of Madison Asset Management, LLC, the Fund’s investment adviser (the “Adviser”), selling at a reasonable price in relation to their long-term earnings growth rates. Under normal market conditions, the Fund will seek to generate current earnings from option premiums by writing (selling) covered call options on a substantial portion of its portfolio securities.

Madison Covered Call & Equity Strategy trades on the NYSE stock market under the symbol MCN.

As of May 13, 2024, MCN stock price climbed to $7.25 with 48,177 million shares trading.

MCN has a beta of 0.45, meaning it tends to be less sensitive to market movements. MCN has a correlation of 0.11 to the broad based SPY ETF.

MCN has a market cap of $152.70 million. This is considered a Micro Cap stock.

In the last 3 years, MCN stock traded as high as $8.60 and as low as $6.27.

MCN stock has underperformed the market in the last year with a return of -0.6%, while SPY returned +27.8%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in MCN shares. However, MCN has outperformed the market in the last 3 month and 2 week periods, returning +4.6% and +3.6%, while SPY returned +4.3% and +2.5%, respectively. This indicates MCN has been having a stronger performance recently.

MCN support price is $7.16 and resistance is $7.30 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MCN stock will trade within this expected range on the day.