For the eighth week in a row, municipal bond funds reported outflows, bringing to 11 out of 26 weeks this year the funds have suffered cash withdrawals.
The weekly reporting funds recorded $105.755 million of outflows in the week ended June 24, after outflows of $420.844 million in the previous week, according to the latest Lipper data.
The four-week moving average remained negative at $329.772 million after being in the red at $354.647 million in the previous week. The moving average has been negative for three weeks in a row. 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 $24.416 million in the latest week, after outflows of $197.404 million in the previous week. It was the also the eighth week in a row long-term funds saw outflows.
Intermediate-term funds recorded outflows of $29.451 million after seeing outflows of $15.216 million in the prior week.
However, high-yield muni funds reported an inflow of $48.394 million in the latest week, after an outflow of $161.877 million the previous week.
And exchange traded funds saw inflows of $41.989 million, after experiencing inflows of $3.186 million in the previous week.
