MCN: Sliding Lower But Premium Remains Sticky

2025-01-03 11:06:08 ET

Summary

• XAI Madison Equity Premium Income Fund has seen a name change along with a change in the adviser, though the fund's objective and investment policy remained unchanged.
• The fund continues to carry a significant cash-like position that we've seen since around 2019, with risk-free rates dropping, this cash position may make less sense going forward.
• Despite the latest underlying weakness in the portfolio caused by overall increased market volatility and declines, MCN still doesn't appear like a bargain.

Written by Nick Ackerman, co-produced by Stanford Chemist

XAI Madison Equity Premium Income Fund ( MCN ) has seen its share price and NAV decline significantly more recently. That isn't unlike too many other areas of the market, as overall market volatility has ramped up after the latest Fed meeting. This has led to some declines in terms of overall total return performance since our prior update . That update goes back to May of this year....

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