A Mystery

If I had to guess what kind of a duck this was I'd say a Wood Duck, and if I had to guess at what he/she was doing I'd be stuck.  I watched it swimming in circles and picking up what looked like a piece of paper then putting it down and swimming in more circles.  It looks like a fish in the picture but I don't think it was.  The duck was doing some strange things with whatever it was.  It doesn't really fit the Wood Duck description either, but nothing else in the bird book has a scarlet eye ring and bill base.