Municipal bond funds suffered a second week of redemptions, according to the latest Lipper data.
Funds which report weekly posted $308.245 million of outflows in the week ended Aug. 5, after experiencing outflows of $73.372 million in the previous week, Lipper reported.
The latest outflow brings to 16 out of 32 weeks this year that the funds have seen redemptions. However, for the year to date, flows are still in the green, totaling $2.953 billion.
The four-week moving average remained negative at $71.365 million after being in the red at $70.731 million in the previous week. The moving average has now been negative for 11 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 $208.019 million in the latest week, after outflows of $10.511 million in the previous week. Intermediate-term funds saw outflows of $1.413 million after seeing outflows of $14.428 million in the prior week.
Exchange traded funds, however, saw inflows of $40.478 million, after experiencing inflows of $101.548 million in the previous week.
But high-yield muni funds saw outflows of $57.808 million in the latest reporting week, after an outflow of $10.152 million the previous week.
In the past 14 weeks, high-yield funds have seen outflows 11 times totaling $1.775 billion and inflows three times totaling $78.785 million.
