For the sixth week in a row, municipal bond funds reported outflows, bringing to nine out of 24 weeks this year the funds have suffered cash withdrawals.
The weekly reporting funds saw $411.755 million of outflows in the week ended June 10, after experiencing outflows of $380.735 million in the previous week, according to the latest Lipper data.
The four-week moving average remained negative at $272.198 million after being in the red at $177.359 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 $264.597 million in the latest week, after seeing outflows of $73.759 million in the previous week. Intermediate-term funds recorded outflows of $48.402 million after seeing outflows of $179.954 million in the prior week.
High-yield muni funds saw an outflow of $241.843 million in the latest reporting week, after seeing an inflow of $15.878 million the previous week.
Exchange traded funds saw outflows of $2.522 million, after experiencing outflows of $5.572 million in the previous week.
