For the seventh week in a row, municipal bond funds reported outflows, bringing to 10 out of 25 weeks this year the funds have suffered cash withdrawals.
The weekly reporting funds saw $420.844 million of outflows in the week ended June 17, after experiencing outflows of $411.755 million in the previous week, according to the latest Lipper data.
The four-week moving average remained negative at $354.647 million after being in the red at $272.198 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 $197.404 million in the latest week, after seeing outflows of $264.597 million in the previous week. Intermediate-term funds recorded outflows of $15.216 million after outflows of $48.402 million in the prior week.
High-yield muni funds had an outflow of $161.877 million in the latest reporting week, after an outflow of $241.843 million the previous week.
Exchange traded funds reported inflows of $3.186 million, after experiencing outflows of $2.522 million in the previous week.
