MTGE seems to slowly getting rid of its spo.
Ihaven't seen it as being completely sold.
The drag on it share price makes me consider holding MTGE through the ex-date and collect the dividend this quarter.
The size of the spo causes me to believe that MTGE's real upswing might occur next quarter.
There's no good reason MTGE cannot be a 30 stock, imo.
P.S trying to move the board :)
It's 20-23 million shares. Those cleared by the 20th.
And the only shares that cross the board are those being sold by the brokerage clients they were allocated to.
Since MTGE pays a fat dividend, it's possible many of those people just held the shares until the next ex-div, which is due in about 4 weeks. They can sell after the run-up or collect the div; either way it's about 5% profit for a little patience. They didn't get very good offers from the market during the SPO, so this would be a way to recoup.
I bought some yesterday. It is nice to get it below the SPO price. It should have some upside leading up to the March dividend. The only thing that will stop it is a market-wide sell-off but shorter term, it could easily go back to $26.50. It's too hard to predict longer term.