Only two issues traded yesterday as The Royal Gazette / Bermuda Stock Exchange index dropped a third of a percentage point.

The vast majority of trading activity centred on Butterfield Bank, with 46,500 shares changing hands as the bank fell five cents (0.44 percent) to close the day on $11.20.

Insurer and pension provider Argus Group Holdings Ltd. also finished in negative territory. It shed 10 cents (one percent) to close on $9.90, on the trading of 2,100 shares.

The Index fell 12.25 points (0.35 percent) to close on 3,535.04.

The Bermuda Insurance Index had a barnstorming day, soaring 47 points (6.2 percent) to close on 815.88.