The holy grail is around 28.5714% instead of the 20% dividend. If it required day trading that might be a pain. But just sobering up 4 times a year doesn't seem like a lot to ask. There is an argument for collecting and reinvesting dividends, but that ties up $$ for the entire year. BATESAT allows access to capital most of the trading year.
and it gets investors the equivalent of (and MORE than) the dividend a month earlier than those who hold for the dividend. For example, with BATESAT, the investor sells at $30, which occurs just before XD date. Their CapGains profit of $2/share exceeds the $1.40 dividend AND they get their $2 immediately upon sale of AGNC shares (or Calls). Dividend holders get their $1.40 (in cash or reinvested shares) a month after XD date.
Thus, BATESATers have $2/AGNC share to re-invest in AGNC at post-dividend prices before the following runup in price during the ensuing month. OR they may choose to invest their $2/AGNC share elsewhere (to manage the risk of too much money in a single investment).