Investors this past week returned to their acquired habit of pulling money out of municipal bond mutual funds just seven days after they ended a 29-week trend of outflows.
There were net outflows in the week ended June 15 of $172 million for muni bond funds that report their flows weekly, according to Lipper FMI. Investors the previous week deposited $274 million.
Before last week’s reported inflows, money had been streaming out, commonly at weekly rates that topped $1 billion, weekly since mid-November. In the week of Jan. 19, investors in weekly reporting funds yanked more than $4 billion, Lipper reported.
Assets for funds that report their flows weekly fell $100 million this week to $317.4 billion from $317.5 billion the previous week. The value of the holdings for weekly reporting funds climbed by just $64 million. Last week, they reported a jump of $562 million.
For all municipal bond mutual funds that report their flows weekly, the four-week moving average inched up to a $157.3 million outflow from a $141.5 million outflow the week before.
