Madison Covered Call & Eq Strat:MCN

    Manage Alerts

    Overview

    As of 5/29/2024

     Share
    Price
    NAVPremium/
    Discount
    Current$7.23$6.963.88%
    52 Wk Avg$7.23$7.042.79%
    52 Wk High$7.93$7.458.55%
    52 Wk Low$6.69$6.73-1.36%
    Regular Distribution TypeIncome Only
    Distribution Rate9.96%
    Distribution Amount$0.1800
    Distribution FrequencyQuarterly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    The Funds 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 selling at a reasonable price in relation to their long-term earnings growth rates.

    Capital Structure

    As of 5/29/2024

    Total Investment Exposure:$146.594M
    Total Common Assets:$146.594M
    Common Shares Outstanding:21,062,368
    Leverage

    As of 12/31/2009

    Preferred Share Assets:
    Total Debt (USD): $0.010M
    Regulatory Leverage (USD): $0.010M
    Effective Leverage (USD): $0.010M
    Effective Leverage (%): 0.01%
    Annual Expense Ratios

    As of 12/31/2023

      Per Common Share
    Management Fees0.80%
    Other Expenses:0.28%
    Baseline Expense: N/A
    Interest Expense:N/A
    Total: 1.08%
    Fund Management

    Fund Sponsor
    Madison Asset Management, LLC

    Portfolio Managers
    Andrew Justman, Ray DiBernardo

    Basics
    Category: Equity-Covered-Call Funds
    Ticker: MCN
    NAV Ticker: XMCNX
    Average Daily Volume (shares): 54,613
    Average Daily Volume (USD): $0.395M
    Inception Date: 7/28/2004
    Inception Share Price: $15.00
    Inception NAV: $14.30
    Tender Offer: No
    Term: No
    Fiscal Year End: December 31
    Third Party Links & Reports

    Distributions

    As of 5/29/2024

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 12/31/2023
    $0.0695
    Annualized Distribution Rate on NAV:
    As of 5/29/2024
    10.34%
    Total Return on NAV (12 months):
    As of 5/29/2024
    3.88%
    Total % Portfolio Effectively Leveraged:
    As of 5/29/2024
    0.01%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 5/29/2024

    PeriodAvg Discount
    6 Month3.76%
    1 Year2.79%
    3 Year4.50%
    5 Year-0.70%
    Z-Score

    As of 5/29/2024

    PeriodZStat
    3 Month0.27
    6 Month0.07
    1 Year0.54
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 4/30/2024
    Category: Morningstar US CEF Covered Call

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD-4.46%0.15%3.77%3.80%
    20237.24%10.75%13.04%18.33%
    20226.71%4.79%-14.68%-13.17%
    202130.42%15.43%28.89%20.78%
    202015.61%8.61%4.93%7.90%
    201919.95%17.44%28.63%22.38%
    2018-11.98%-8.53%-11.75%-7.93%
    20179.94%7.20%23.10%16.38%
    201614.63%7.99%8.90%8.17%
    2015-0.63%-0.96%1.86%0.11%
    20148.48%6.47%7.53%4.80%
    201317.17%17.95%19.68%17.79%
    201211.73%8.29%14.03%10.09%
    2011-9.90%-4.32%  
    201010.35%9.59%  
    200960.45%38.59%  
    2008-38.42%-34.43%  
    2007-17.00%-3.94%  
    200611.90%10.34%  
    20058.57%6.42%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 4/30/2024
    Category: Morningstar US CEF Covered Call

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Number of Holdings:
    As of 4/30/2024
    39
    Annual Portfolio Turnover:
    As of 12/31/2023
    106.00%
    Asset Allocation

    As of 4/30/2024

    Top Sectors

    As of 4/30/2024

    Sector%Portfolio
    Cash Equivalents (Super Sector)29.02%
    Cash Equivalents29.02%
    Cyclical (Super Sector)26.01%
    Defensive (Super Sector)23.28%
    Sensitive (Super Sector)22.81%
    Healthcare12.08%
    Financial Services9.35%
    Energy8.88%
    Basic Materials7.56%
    Utilities7.46%
    Top Holdings

    As of 4/30/2024

    HoldingValue% Portfolio
    Las Vegas Sands Corp$5.50M3.73%
    Transocean Ltd$4.91M3.33%
    NextEra Energy Inc$4.35M2.95%
    BlackRock Inc$4.30M2.92%
    Medtronic PLC$4.28M2.90%
    The AES Corp$4.19M2.84%
    Barrick Gold Corp$4.07M2.76%
    Newmont Corp$3.86M2.62%
    Texas Instruments Inc$3.53M2.39%
    PayPal Holdings Inc$3.48M2.36%
    Country Allocation

    As of 4/30/2024

    Country% Portfolio
    United States - Equity69.02%
    Canada - Equity2.76%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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