Money market funds attract $40B in weekly inflows as investors are net buyers

Apr. 29, 2022 11:37 AM ETSPDR S&P 500 Trust ETF (SPY), QQQ, IVV, LQDXLF, MUB, TFI, SCHRBy: Jason Capul, SA News Editor3 Comments

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The financial community found themselves to be net purchasers of fund assets for the week, totaling $28.4B in ETFs and conventional funds according to the latest Refinitiv Lipper insight report, led by money market funds. The influx of capital represented the market's first week of positive flows out of the past four.

Investors will notice that money market funds were the headliner, attracting $40B, taxable bond funds took in $19M, yet at the same time, equity funds retracted $8.8B and tax-exempt fixed income funds lost $2.9B.

Equity ETFs were weekly gainers as the space brought in $1.2B. Benchmark ETFs SPDR S&P 500 ETF (NYSEARCA:SPY) and Invesco QQQ Trust 1 ETF (NASDAQ:QQQ) garnered the greatest capital flows, $1.5B and $1.2B, respectively.

Turning the tables and the market players watched the iShares Core S&P 500 ETF (NYSEARCA:IVV) lose the most significant amount of capital followed by the Financial Select Sector SPDR ETF (XLF). IVV experienced outflows of $2.4B and XLF watched $1.8B exit the door.

Fixed Income ETFs on the other hand brought in $4.3B for the week, led by the iShares iBoxx $ Investment Grade Corporate Bond ETF (NYSEARCA:LQD), which gained $1.1B of capital inflows. Following up behind it was the Schwab Intermediate-Term US Treasury ETF (SCHR), pulling in $791M.

On the other side of the coin, the iShares National Muni Bond ETF (MUB) and the SPDR Nuveen Bloomberg Municipal Bond ETF (TFI) saw the largest outflows. MUB lost $852M while TFI lost $601M.

In broader market news, the stock market is at its lows of the session early Friday after a brief buy-the-dip attempt in morning trading.

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