Sounds reasonable to me. Looks like 41k shares traded AH & took IGR down another 2.5%, so who knows? The ex-divi date is just around the corner & that always makes for some interesting movement just beforehand.
Whether or not the Oxford Club's reasons to sell are valid or not, yesterday's selling was undisciplined and throwing away the stock.
The Net Asset Value yesterday was UP 3 cent. UP. IGR has been trading steadily for weeks around a 9% discount to NAV, and after yesterday the discount moved to -11.3%. And, that was with IGR closing at the high of the day of $7.54. At the open, when someone put in a sell for around 600,000 shares and got sold out at prices near $7.30, they were selling shares at a 15% discount to NAV. People like that deserve to get mauled by the market, and they did.
It probably will take a few days for IGR to get back to it's comfortable level of a 9% discount to NAV, but chances are it will. Whether the Oxford Club is right or wrong about their reasons to sell, yesterday's selling pressure to prices even below $7.60 was totally unjustified. I'm glad I bought more shares.