August 8, 2018 / 5:49 PM / 4 months ago

TABLE-ETF investors bought into tech dip in latest week -ICI

    By James Thorne
    NEW YORK, Aug 8 (Reuters) - Investors in equity
exchange-traded funds took advantage of a dip spurred by drops
in prominent technology stocks during the most recent week,
Investment Company Institute data showed on Wednesday.
    Domestic equity ETFs brought in $4.7 billion, while world
equity ETFs attracted $403 million, according to ICI data
collected over the week ended Aug. 1.
    U.S. stock markets were rattled during the period by a
selloff in prominent tech stocks, such as Facebook and
Netflix.
    Mutual fund investors, however, pulled more than $8 billion
out of equity funds in the period - the largest withdrawal in a
month. Mutual funds have posted outflows for the past 16
consecutive weeks.
    "Conventional wisdom suggests investors should be positive
on stocks. We're in positive territory for this year, earnings
are very strong. It's arguably a good environment for
investing," said Kristina Hooper, global market strategist at
Invesco in New York.
    "But I think there's this loss of confidence that's
impacting investors with a longer time horizon."
    Both ETF and mutual fund investors showed demand for bond
funds, adding $5.9 billion and extending a streak of inflows
since February. Tax-free municipal bonds took in $164 million,
the smallest weekly amount since early May.
    
    The following table shows estimated ICI flows for mutual
funds and ETFs (all figures in millions of dollars):
                8/1     7/25    7/18     7/11      7/3
 Equity        -3,011  419     1,492    -3,155   -10,587
    Domestic   -2,130  523     1,297    -1,546   -11,376
    World      -881    -105    195      -1,609   789
 Hybrid        -2,268  -1,165  -1,829   -1,048   -2,552
 Bond          5,859   4,417   8,660    7,445    4,591
    Taxable    5,694   3,817   6,894    6,416    4,235
    Municipal  164     600     1,765    1,028    356
 Commodity     -101    164     -308     101      -1,027
 Total         477     3,834   8,014    3,343    -9,575
    

 (Reporting by James Thorne, editing by G Crosse)
  
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