You have been assigned to implement a three-month hedge for a stock mutual fund portfolio that primarily invests in medium siz companies. The mutual fund has a beta of 152 measured relative to the S&P Midcap 400, and the net asset value of the fund is $192 million . Should you be long or short in the Midcap 400 futures contracts? Short O Long b. Assuming the Midcop 400 Index is at 663 and its futures contract size is 500 times the index, determine the appropriate number of contracts to use in designing your cross hedge strategy (Do not round Intermediate calculations. Round your answer to the nearest whole number) Number of contracts