For the 10th straight week in a row, mutual funds took in inflows, the Investment Company Institute revealed. However, the flows tapered off to $9.69 billion for the week ended May 20.
Stock funds took in $764 million, down sharply from the $6.83 billion the previous week and $10 billion high earlier in March. U.S. stock funds accounted for $252 million of those inflows, and international stock funds $513 million.
Investors poured $8.39 billion into bond funds, down only slightly from $8.75 in the previous week. Taxable funds accounted for $6.46 billion of that money, and municipals $1.93 billion.