Investors snapped up Butterfield Bank common shares at 24 cents below their true value after the bank launched its rights issue yesterday on The Bermuda Stock Exchange.

A total of 93,200 shares worth 15 cents each were traded during the day.

The bank also saw 51,185 shares change hands, but its share value held firm at $1.45.

Bermuda Commercial Bank Ltd., meanwhile, transacted 64 shares to open and close at $7.75.

Elsewhere, the Ascendant Group Ltd. fell 3.44 percent (50 cents) to $14, as 6,000 shares were traded.

BF&M Ltd., however, rose 1.92 percent (25 cents) to $13.25.

Overall the Index declined 4.08 points (0.29 percent) to 1,380.29, with 151,849 shares worth BD$191,025.25 and 6,750 shares worth US$72,837.50 transacted.

The BSX Insurance Index rose 9.64 points (0.95 percent) to 1,014.69.