On July 1, an investor holds 5,000 shares of a certain stock. The market price is $30 per share. The investor is interested in hedging against movements in the market over the next month and decides to use the September Mini 500 S\&P 500 futures contract. The index futures price is currently 1,504 and one contract is for delivery of $50 times the index. The beta of the stock is 0.95 . What strategy should the investor use to hedge and calculate the number of contracts needed? Under what circumstances will it be profitable