Yeah I asked that question myself. The path as given by AGNC is that there was not enough of a price drop after Xd to make selling worth it. Besides that, you can expect an spo in the next two weeks. Then you will have the cash to get in at about 22.50.
Split your holding and sell half. Then you can claim you were wise either way.
Investors are realizing that returns on agency reits are pretty safe for about two years so now a premium above book is pushing the price up.
I admit it, I'm the idiot who bought because it was going up. No other reason. It broke it's 52wk high and I got in. Didn't realize this was a dividend play till later. No clue on credit spreads. I know one thing...buy high and sell higher.