Quercus drops stake in Beacon Power to 19%, sells more than 900,000 shares

By Lisa Kerner

Charlotte, N.C., June 12 - The Quercus Trust sold 930,574 shares of Beacon Power Corp. between May 6 and June 11, reducing its ownership of the company to 19%, from 19.9% on May 7.

The shares were priced from $1.13 to $1.81, according to a schedule 13D filing with the Securities and Exchange Commission.

Quercus owns 17,930,525 shares of the Wilmington, Mass.-based company's common stock.

The investor sold 1,149,218 shares of Beacon Power between March 31 and May 5 priced from $0.92 to $1.30, a prior SEC filing stated.

Beacon develops products and services to support electricity grid operation.

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