He does know something, everyone does, and it was a substantial amount he has been accumulating. Perhaps he knows a little history and is waiting for history to repeat? What he buys removes some of what is available, effects float, that in-turn can effect price? perhaps he just likes the yield and figures he can maintain it? perhaps he is slowly accumulating votes to eventually have say to liquidate at a nice 30% profit? Hard to say, but I can say someone doesn't buy that amount without a reason -- naive to think there isn't some reason???
I own some and also have GTC buys in that haven't quite hit their limit. I figure he bought at $7+ so he doesn't see that as the ceiling level but more as a floor level, although not absolute floor. Anyway, I can buy and wait till it get back to his level and beyond and collect the divy while waiting. And I do believe it can get withing 15% of book.
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