Investors kept adding to their stock fund holdings over the past week, but at a slower pace.
Equity funds pulled in $1.6 billion of net new money during the week ending Wednesday, according to TrimTabs Investment Research of Santa Rosa, Calif. That was down sharply from $9.4 billion the previous week.
Equity funds that invest primarily in U.S. stocks fell out of favor, with $87 million walking out the door. By comparison, they pulled in $5.5 billion of new money the previous week.
However, equity funds that invest primarily in non-U.S. stocks were still taking in new money, though at slower pace than a week ago. These funds took in $1.7 billion, down from $3.9 billion the previous week.
While international funds were on the upswing for this week, "the real story is that flows are not especially strong right now," according to Conrad Gann, president and chief operating officer of TrimTabs.
Dow Jones Industrial Average
closed at 13,892.54 Wednesday, down from 14,078.69 on Oct. 10.
The picture was similar for exchange-traded funds, which are portfolios of securities that trade on an exchange, like stocks. ETFs that invest in U.S. stocks had net outflows of $2.6 billion during this past week, down from $4.7 billion during the previous week.
ETFs that invest in non-U.S. stocks took in $1.9 billion of new money, down from $3 billion during the previous week.
Bond funds took in $2.2 billion of new money, off slightly from $2.3 billion during the previous week. Hybrid funds, which invest in both stocks and bonds, saw inflows of $1.4 billion, nearly three times previous week's total of $500 million.