Qualstar Corporation (QBAK) Major Shareholder William J. Gervais Sells 5,000 Shares

Qualstar Corporation (NASDAQ:QBAK) major shareholder William J. Gervais sold 5,000 shares of Qualstar Corporation stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $7.20, for a total transaction of $36,000.00. Following the completion of the transaction, the insider now directly owns 180,558 shares in the company, valued at $1,300,017.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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A hedge fund recently raised its stake in Qualstar Corporation stock. Wedbush Securities Inc. lifted its position in Qualstar Corporation (NASDAQ:QBAK) by 61.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,472 shares of the electronics maker’s stock after buying an additional 20,006 shares during the quarter. Wedbush Securities Inc. owned about 2.57% of Qualstar Corporation worth $269,000 as of its most recent SEC filing. 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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