Large Fund Outflow In An Uptrend

The latest data from the Investment Company Institute shows that equity mutual funds suffered an outflow of more than $42 billion in April alone, one of the largest losses ever for a single month. As a percentage of assets, that’s only about 0.40%, but even that is still fairly large.

What’s especially notable is that while investors were yanking those funds out of stocks, stocks were still rising at the time, and the S&P was firmly above its 12-month moving average.

See the May 31, 2019 report for more details.