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A fund manages a $2.4 billion equity portfolio with a beta of .6. If the S&P contract multiplier is $250 and the index is currently

A fund manages a $2.4 billion equity portfolio with a beta of .6. If the S&P contract multiplier is $250 and the index is currently at 1,600, how many contracts should the fund sell to make its overall position market neutral?

Number of contracts

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