Assets in Money Market Funds Dip

Money market funds dipped last week, marking the second consecutive weekly drop, according to the Investment Company Institute. As retail investors continued to pour new money into the funds, institutional investors pulled money out. During the first week covering the New Year, between Dec. 28 and Jan 3, assets rose by $11 billion to $2.39 trillion.  During the week ending Wednesday, Jan. 17, assets in these funds dropped $11.64 billion to $2.38 trillion. Institutional outflows were $15.94 billion for a total of nearly $1.4 trillion, while retail funds enjoyed inflows of $4.29 billion, increasing their total assets to nearly $982 billion.