For the fifth straight week, municipal bond funds reported outflows, bringing to eight out of 23 weeks this year the funds have suffered cash withdrawals.
The weekly reporting funds saw $380.735 million of outflows in the week ended June 3, after experiencing outflows of $205.255 million in the previous week, according to the latest Lipper data.
The four-week moving average remained negative at $177.359 million after being in the red at $134.944 million in the previous week. A moving average is an analytical tool used to smooth out price changes by filtering out fluctuations.
Long-term muni bond funds also experienced outflows, losing $73.759 million in the latest week, after seeing outflows of $120.475 million in the previous week.
Intermediate-term funds recorded outflows of $179.954 million after seeing inflows of $20.142 million in the prior week. Exchange traded funds saw outflows of $5.572 million, after experiencing inflows of $42.357 million in the previous week.
However, high-yield muni funds recorded an inflow of $15.878 million in the latest reporting week, after seeing outflows of $117.290 million the previous week.
