The Royal Gazette/Bermuda Stock Exchange Index fell last week as heavy trading in Butterfield Bank shares on Thursday dominated.

The Index fell 40.21 points or 1.22 percent to close at 3,307.60 on volume of 26,146 shares worth $1,092,257.

Most of the trading was in Butterfield shares, with 25,306 shares trading down 50 cents to $41.50.

Otherwise, trading was light. BF&M plunged $1.50 or ten percent to close at $13 on volume of just 170 shares.

Belco was unchanged at $42 on volume of 670 shares.

The market continues to be weighed down by lack of supply, with investors failing to offer shares for eight issues, and wide gaps between asking prices and bids.

The Bermuda Insurance Index, which tracks Bermuda insurance and reinsurance companies with a physical presence on the Island which trade on overseas exchanges, fell 7.32 points to close at 1,078.03.