I would guess that a small professional speculator realized that it would not take much money to move the preferred a good percentage up and down, and make a tidy return on the amount of capital put at risk. The big boys play with much larger amounts in much larger ponds. A small fish can toy with HPT-C without being hammered by a Goldman. It's all part of capitalism...no harm done. Doesn't mean a thing for us small, long-term investors.