Funds Take In $12.58 Billion
By JOHN KELLNEW YORK—Long-term mutual funds had inflows, or net buying, for the latest week on continued strength for bond funds, while stock funds in the U.S. and abroad again reported inflows, according to the Investment Company Institute.
Total estimated inflows were $12.58 billion the week ended April 21. For more than a year, the bulk of investment in mutual funds has gone to bonds, which typically thrive in a lower interest-rate environment. Meanwhile, stock funds have failed to consistently attract new interest despite the stock market's sharp rally.
Stock funds had inflows of $4.76 billion in the latest week, up from $2.14 billion a week earlier. U.S. stock funds had inflows of $2.86 billion, while $1.89 billion was added to foreign stock funds.
The chart below of the SPY the sp 500 etf showsthe largest spike in volume this year since Feb. coincident with the recent mkt rise.