Heavy trading in Butterfield Bank shares dominated the Bermuda Stock Exchange last week, and a marginal drop in its shares by Friday helped to drive the Royal Gazette/Bermuda Stock Exchange Index down 4.619 points to 3,226.96.

Butterfield ended the week down 15 cents at $40.85 on volume of 98,115 shares. The trading, valued at almost $4 million, accounted for the lion's share of volume on the BSX. A total of 134,647 shares worth $4.5 million traded.

Belco Holdings Ltd. had a good week, gaining $2.50 or 6.25 percent to close at a 52-week high of $42.50 on volume of just 710 shares.

Island Press (Holdings) Ltd.'s preferred shares also gained, rising 6.62 percent or 25 cents to close at $4, its 52-week high, on volume of 1,777 shares.

Bermuda Container Line, which produced strong earnings recently, rose 50 cents to $13.50 - another 52-week high - on volume of 1,200 shares.

And Bermuda Commercial Bank's warrants also gained, rising 75 cents - a whopping 75 percent increase - to close at $1.75 on volume of 5,000.

Telecommunications company KeyTech Ltd. slumped $1.25 or 11.11 percent to close at $10 on volume of 7,200 shares.

Insurers BF&M Ltd. and Argus both lost ground, with BF&M plunging $1.40 or 9.09 percent to close at $14 on trading of 2,136 shares and Argus dropping 45 cents to $25 on volume of 11,510.