Board members... a lot of investors feel there is going to be 'another stock offering at a lower price' (very soon)...so they sold after the ex-dividend date and then they plan to buy back in again (cheaper) when the new offering is announced...! $tagg...!
Some are rotating into other, more beaten down reits with even higher yields, ala AGNC, MTGE, WMC, etc. Rates are essentially flat for the quarter now - so little to no drop in the value of existing mbs. Yields are way up. Because of the big drop in rates, recently purchased mbs are way into profit as well. BV will be surprisingly strong, if not up this quarter as all three positives kick in at once.