MCN News and Press, Madison Covered Call & Equity Strategy Fund From 03/25/23

2023-03-25 05:11:21 ET Summary 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. The defensive positioning of this fund has been quite simple but in...

Summary MCN is an equity buy-write closed-end fund. The CEF has significantly outperformed the S&P 500 Buy-Write Index, which is down almost -12% this year. The vehicle has achieved this feat through a small, actively managed equity portfolio, with individual covered calls writt...

Summary 16 out of 23 CEF sectors positive on price and 12 out of 23 sectors positive on NAV last week. Watch for overvalued CEFs as market volatility rises. A reminder that the Tortoise tender offers are expiring. Author's note: This article was released to CEF/ETF...

Summary 0 out of 23 CEF sectors are positive on price and 0 out of 23 sectors are positive on NAV over the last week. BlackRock CEFs are repurchasing their shares. Author's note: This article was released to CEF/ETF Income Laboratory members on October 18th, 2022. Plea...

Summary You cannot make this stuff up. We're in a bear market, right? Then why is a CEF that has lost -46.1% of its NAV this year trading at a +69% market-price premium? And why is another CEF whose NAV is only down -2.0% YTD trading at a discount when its defensive option strateg...

Summary 14 out of 23 CEF sectors were positive on price and 16 out of 23 sectors were positive on NAV last week. HYT conducts a rights offering. ZTR rights offering has expired. Author's note: This article was released to CEF/ETF Income Laboratory members on Septem...

Summary MCN has been brought up in the past, but more recently, it seems to have been a more frequent occurrence. I've run across MCN previously, but I haven't looked at the fund too much in-depth. The fund utilizes a covered call-writing strategy, generating premiums and help...

Summary 20 out of 23 CEF sectors positive on price and 16 out of 23 sectors positive on NAV last week. OPP rights offering announced. Aberdeen (now "abrdn") and Delaware CEFs are merging, subject to shareholder approval. Author's note: This article was released to CEF/...

It's been a stellar month+ for the more aggressive and leveraged equity CEFs with the more defensive option-income CEFs having more mixed results. Generally speaking, option-income CEFs that sell a low percentage of options against their portfolio have performed better than option fun...

Hopes and prayers answered! I said last weekend in the May 20 Equity CEF Performance update that I was expecting a bounce this week and that's exactly what happened. After seven down weeks in a row, the S&P 500 was finally up 6.6% last week while the Nasdaq-100 was up 7.1%. It was...