Question: Provide your answer to the question below as the number of contracts needed. Round to the nearest whole number. Record your answer as positive if

Provide your answer to the question below as the number of contracts needed. Round to the nearest whole number. Record your answer as positive if the investor should purchase futures contracts and record your answer as negative if the investor should sell futures contracts (for example, an answer of -1 would indicate the investor should sell one contract, an answer of +5 would indicate the investor should purchase five contracts). The current S&P 500 futures contract has a price of 2,261 and a multiplier of 50. An investor is planning to hedge the purchase of 11,283 shares of Company ABC stock. ABC has a beta of 1.14 and a current price of 83.85. What position should the investor take in the futures market to hedge the purchase of shares of ABC?

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