Hey Blue. You said pretty much what I was about to write, although you said it better and with more facts. To me, since AOD has become less of a dividend recapture alchemist, it is settling down. The dividend is no longer a driver. The discount to NAV is still large. I have a feeling that management is quietly backing away from the recapture nonsense and may be trying to save face. The dividend is still not justified, but not outrageous.
It is now just a stock to play, keeping an eye on NAV. I've bot and sold for a 40c and a 25c profit recently, and am currently long at $3.91 and am looking to sell again at $4.20 unless the NAV starts dropping big, in which case I'll get out at market. I'm not risking a lot on this stock and I never will again.