The Royal Gazette/Bermuda Stock Exchange Index fell 19.29 points yesterday to 3,810.15 as Butterfield Bank shares fell five cents to close at $45.50.

On a slow day of trading Butterfield Bank investors traded 4,273 shares.

The Exchange also saw Argus Insurance Co. Ltd. decline 25 cents on volume of 400 shares to close at $26.75.

The only other mover was Belco Holdings Ltd. which fell $1.45 as investors traded in 600 shares to close at $42.50.

The Bermuda Insurance Index, which tracks publicly traded Bermuda-based insurers, closed up 1.06 percent at 1,076.16.

Most Bermuda insurers posed modest gains, but ACE gained 2.31 percent to close at $49.07 and Scottish Re was up 2.1 perent at $23.84.