U.S. exchange-traded funds turned in a strong performance last month rising to $132.7 billion at the end of November from $129.1 billion in October, the Investment Company Institute said on Monday.

The ICI, a Washington-based trade association for the fund industry, said the value of all exchange-traded shares issued in November eclipsed share redemptions by $2.1 billion.

Stock index exchange-traded funds had positive net issuance of $2.2 billion, while bond index ETFs had negative net issuance of $61 million. Gross issuance of all ETFs decreased in November to $6.5 billion from a revised $7.74 billion in October, and redemptions decreased to $4.36 billion from $5.88 billion in October, the report said.

Exchange-traded funds are traded throughout the day like stocks and are bought sold through broker dealers.

The ICI tracks 118 ETFs, including 72 that mirror domestic stock indices, 41 that track international stock indices and five that track bond indices.

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