Last Friday, 3/19/10, we saw essentially the same pattern. Very little trading in the early part of the day till early afternoon, just an ordinary random day. Then, buying picked up with the ask increasing with the day finishing out at a much higher volume then most days and most importantly closing out on the high of the day.
Thanks for your clarification. That would make sense. I would agree one or very few small cap value fund is likely buying this.
Alternatively, it looks to me that DFA and White Rock Capital are two hedge funds, that both own over 5%, that either of them might be adding to their position. But then, we should see a Form 13G/A soon.