Total net new cash flows into stock funds dropped $1.92 billion to $17.29 billion in May from the previous month, but assets held in those funds increased $28.39 billion in the same period, according to the Investment Company Institute.

While new sales of stock funds increased $4.55 billion to $87.91 billion in May from April, so too did redemptions, climbing $6.06 billion to $72.89 billion, the ICI said.

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