Individual investors added money to U.S. stocks for a seventh straight week last week, but they're continuing to show an even stronger appetite for international stocks.
While U.S. stock mutual funds attracted $1.1 billion during the week ended Feb. 14, international stock funds lured nearly $3.5 billion, according to data from the Investment Company Institute. So far this year, investors have poured almost $21 billion in U.S. stocks and more than $32 billion in global stocks, bringing the total stocks inflow to more than $53 billion.
That fact that investors are showing love for stocks is a sharp contrast from the past several years. The last time investors added more money to stock funds than they took out was in 2007, when U.S. stocks rose to record highs. Both the Dow Jones industrial average and the S&P 500 are back near those levels.
While investors added to their stock holdings, they're also continuing to pad their bond holdings. Bond fund raked in $4.7 billion last week, bringing the year's total to $47 billion. In 2012, bond funds brought in more than $300 billion.
Hybrid funds, which invest in both stocks and bonds, gained $2 billion last week, according to ICI data.
Investors continued to buy up bonds and unload stocks last week, as they reacted to President Obama's re-election and geared up for a heated debate over how to solve the fiscal cliff.
While bond funds raked in $7.5 billion, U.S. stock mutual funds lost another $2.1 billion during the MOREHibah Yousuf - Nov 15, 2012 11:19 AM ET
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