Giving up some of the dramatic gains made recently, money market mutual funds shed $1.51 billion of assets in the week ended June 21, closing the period with $694.55 billion.

The Investment Company Institute, which reported the figures, said the outflows were concentrated in money funds for institutional investors. They held $208.34 billion last week, a $1.93 billion decline.

Balances of retail funds edged up by $418.8 million, to $486.21 billion, the institute reported.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.