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Equity funds saw outflows the week stocks hit new record highs

In this image, the camera looks up from the New York Stock Exchange floor as men walk across the floor and look at screens.
NYSE at the opening bell, April 24, 2019. Photo: Drew Angerer/Getty Images

Money flowed strongly into mutual funds and ETFs of all kinds except for equity funds last week. According to the most recent data from Lipper, equities saw $7.3 billion of outflows, the only asset group it tracks to see money pulled out of funds.

Why it matters: Despite the run in U.S. stocks, data shows that real money investors have been selling for most of this year. That trend continues even during what should be bouts of exuberance.

The backdrop: The drawdown in stocks came as the S&P 500 and Nasdaq reached new all-time highs and the U.S. saw a raft of strong economic data, including retail sales and jobless claims, as well as above-average corporate earnings results.

Go deeper: Investors are selling stocks, but the market keeps rising