Qualstar Corporation (QBAK) Major Shareholder William J. Gervais Sells 5,000 Shares of Stock
Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 5,000 shares of Qualstar Corporation stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $7.20, for a total transaction of $36,000.00. Following the completion of the sale, the insider now owns 180,558 shares in the company, valued at $1,300,017.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
A hedge fund recently raised its stake in Qualstar Corporation stock. Wedbush Securities Inc. raised its holdings in shares of Qualstar Corporation (NASDAQ:QBAK) by 61.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,472 shares of the electronics maker’s stock after purchasing an additional 20,006 shares during the period. Wedbush Securities Inc. owned 2.57% of Qualstar Corporation worth $269,000 as of its most recent filing with the Securities and Exchange Commission. 14.20% of the stock is currently owned by hedge funds and other institutional investors.
About Qualstar Corporation
Qualstar Corporation is a provider of data storage systems marketed under the Qualstar brand and of power solutions marketed under the N2Power brand. The Company’s segments include Power Supplies and Data Storage. Under the Power Supplies segment, it designs, manufactures and sells open frame switching power supplies.
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