@rolf2903 ... Because they have that power, I suspect they wait...

@rolf2903 ... Because they have that power, I suspect they wait until a market sensitive announcement to drive up the price so it doesn't look like manipulation, then keep driving up the price until index inclusion date, which will probably be around the next top.

Regal make money by a stock they hold moving, so they can trade it, buy low sell high, rinse repeat. You can get away with it when you are the big fish and guaranteed the underlying stock is a good overall investment.
You can't leave too many footprints as 'manipulation' is illegal, so always raise price under cover of a 'good' announcement. Then sell under cover of poor announcement, no news, bad market etc..

I'm just jealous I can't work out most of their buy and sell points to front run them LOL.

The most important aspect though, is the stock has to have real underlying value, so you never have to worry about getting caught with too many shares when playing the game. We have the underlying value in spades...