Is XAI Madison Equity Premium Income Fund (MCN) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2024
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | Excluded — Asset Management | ✗ NOT HALAL | |||
| DJIM | Excluded — Asset Management | ✗ NOT HALAL | |||
| MSCI | Excluded — Asset Management | ✗ NOT HALAL | |||
| S&P | Excluded — Asset Management | ✗ NOT HALAL | |||
| FTSE | Excluded — Asset Management | ✗ NOT HALAL | |||
Financial Highlights
Profitability
| Gross Margin | 100.0% | |
| Operating Margin | 56.5% | |
| Net Margin | 290.5% | |
| Return on Equity (ROE) | 7.9% | |
| Return on Assets (ROA) | 1.0% |
Cash Flow & Balance Sheet
| Current Ratio | 0.4 |
| Total Assets | $141M |
Price & Trading
| Last Close | $5.77 |
| 50-Day MA | $6.00 |
| 200-Day MA | $6.09 |
| Avg Volume | 80K |
| Beta | 0.7 |
|
52-Week Range
$5.16
| |
About XAI Madison Equity Premium Income Fund (MCN)
XAI Madison Equity Premium Income Fund is a closed-ended equity mutual fund launched by Madison Investment Holdings, Inc. It is managed by Madison Asset Management, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating across diversified sectors. The fund primarily invests in reasonably priced growth (GARP) stocks of large and mid-cap companies. It also writes covered call options to make its investments. The fund employs fundamental analysis with a bottom-up stock picking approach, focusing on such factors as PEG ratios (price-earnings ratio to growth rate), financial strength, and industry leadership to create its portfolio. It benchmarks the performance of its portfolio against the CBOE S&P 500 Buy/Write Index. The fund conducts in-house research to make its investments. It was formerly known as Madison/Claymore Covered Call & Equity Strategy Fund. XAI Madison Equity Premium Income Fund was formed on May 6, 2004 and is domiciled in the United States.
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Frequently Asked Questions
Is XAI Madison Equity Premium Income Fund (MCN) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), XAI Madison Equity Premium Income Fund is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is XAI Madison Equity Premium Income Fund's debt ratio?
XAI Madison Equity Premium Income Fund's debt ratio is not available under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%.
What are XAI Madison Equity Premium Income Fund's key financial metrics?
XAI Madison Equity Premium Income Fund has a market capitalization of $120M, trailing P/E ratio of 18.4, and revenue of $6M. The company maintains a gross margin of 100.0% and a net margin of 290.5%. Return on equity stands at 7.9%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.