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OCR: THE SMALL INVESTOR UPDATE INVESTORS ARE that yield as much as 7% 51% more than in June SCRAMBLING FOR tax- -free were AMG Data particularly Ser For individual's July the holdings average popular. HIGHER INCOME vices of Arcata, Calif. re measured by MONEY maga- As rates on certificates ot ports that in July investors zine's Small Investor Index, deposit and money -market poured $4.3 billion of new rose $1,169 to record funds fell to almost 3% last money into such funds. $45,719, the biggest gain month. income investors 1.9 billion in June since December. Stocks re- switched billions of dollars Utility-stock funds, pay turned $806 bonds added to mutual funds that pay ing 6% were the $300, and CDs and money 6% or more hottest stock group. attract- funds chipped in $60 Municipal bond funds ing ...