>>Wellington.....a Very sharp and Huge small-cap institutional investor have just bought 11% of HDTV stock<<
Are we talking about the same Wellington Management? From what I understand Wellington Management (not to be confused with Wellington Financial)manages investments for others mostly. If you look at form SC 13G you will see that Wellington 'Management' acquired shares as an investment adviser.
Now they could have researched HDTV and advised someone to buy, or, they could have been instructed to buy the shares and asked to manage the investment. Looking at Wellington's Website they don't appear to be a "Huge small-cap institutional investor". I could be wrong but it doesn't look to be their style.
From the 13G; "WMC, in its capacity as investment adviser, may be deemed to beneficially own 3,905,800 shares of the Issuer which are held of record by clients of WMC.<<
It would be interesting to know how these shares were acquired. If someone did not want someone to know who really owned theshares they could use someone like Wellington. I got a feeling that there is more to this transaction than someone being sold on the prospects of the future of HDTV.