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 April 17, 2024, MCN stock price declined to $6.97 with 45,413 million shares trading.

MCN has a beta of 0.50, meaning it tends to be less sensitive to market movements. MCN has a correlation of 0.13 to the broad based SPY ETF.

MCN has a market cap of $146.80 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 has underperformed the market in the last year with a price return of -6.1% while the SPY ETF gained +23.0%. MCN has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -1.0% and -3.6%, respectively, while the SPY returned +5.7% and -3.5%, respectively.

MCN support price is $6.90 and resistance is $7.08 (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.