The Royal Gazette/Bermuda Stock Exchange index dipped yesterday after Bank of Butterfield stock lost some ground.

The stock had been trading at its record high of $45, but yesterday fell 50 cents to close at $44.50.

But this was balanced by three other stocks making gains. Bermuda Commercial Bank rose 20 cents to $7.00, Argus up 50 cents to $25.50 and Belco rose 25 cents to finish at $35.25.

The index closed down 1.27 points or 0.04 percent at 2,981.93 on a volume of 13,746 shares worth $473,134.