With Norwegian Cruise Line Holdings (NCLH) stock prices just off a 52-week low, President and CEO Frank Del Rio acquired more NCLH common stock, according to an August 31, 2016 filing with the U.S. Securities and Exchange Commission (SEC).

The purchase is a vote of confidence in the company, with del Rio purchasing 55,623 shares directly at an average price of $35.956 and another 27,875 shares at an average price of $35.901 indirectly through the FJDR Family Trust. The total transaction adds up to $3,000,722.

The SEC filing reports that with the purchase, del Rio owns 451,171 shares of NCLH directly and another 27,875 shares (purchased on August 31, 2016) indirectly through his family’s trust.

The company’s share prices recently dipped following its Q2 earnings report.