the Bermuda Stock Exchange index which closed at 1,181.81 yesterday. Five issues traded, three advancing, two unchanged in value on a volume of 11,940 worth $112,755.

Bank of Bermuda warrants rose 50 cents to $3.50 on a volume of 1,000. Bank of Butterfield stock was up 50 cents to $12 1 on a volume of 5,000. BELCO Holdings rose 50 cents to $22 on a volume of 540. All three issues were trading at their 52 week highs.

Trading unchanged were Bermuda Commercial Bank at $5 on a volume of 400, and Watlington Waterworks at $7 on a volume of 5,000.