Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 10,000 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $7.25, for a total value of $72,500.00. Following the transaction, the insider now directly owns 180,558 shares of the company’s stock, valued at $1,309,045.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
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A hedge fund recently raised its stake in Qualstar Corporation stock. Wedbush Securities Inc. lifted its holdings in Qualstar Corporation (NASDAQ:QBAK) by 61.6% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,472 shares of the electronics maker’s stock after buying an additional 20,006 shares during the period. Wedbush Securities Inc. owned approximately 2.57% of Qualstar Corporation worth $269,000 at the end of the most recent reporting period. Institutional investors own 14.20% of the company’s stock.
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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