March was the third month in a row that retail investors were net buyers of individual municipal bonds, and it also was the fifth consecutive month that mom-and-pop investors sold more shares of muni mutual funds than they purchased, according to the March Transparency Report published by BondDesk Group LLC.

The data indicates that there were 375,203 retail buy trades versus 146,379 retail sell trades, for a ratio of 2.6, according to the report from the Mill Valley, Calif., fixed-income technology company.

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