QUESTION 3 A company has a portfolio of stocks worth $3 million. The beta of the portfolio is 0.6. The company would like to use the futures contract on the S&P 500 to change the beta of the portfolio to 1.2. The index is currently 1000, and each futures contract is on $150 times the index a. What position should the company take? b. What can be said about the action of this company? T T TT Paragraph Arial % DDOE S fx Mashups. 16 B 3 (12pt) - E - T- T TEST --- E N ESS Path:p Words:0 Eck Save and Submit to save and submit. Click Save All Answers to save all answers. Save As An