June was a gentle month for deal making. As the first month of summer, preliminary data shows a slight drop in deal volume for the month, compared with a busier May. Investors seem to be taking the adage “Buy in May and go away” seriously.

With a preliminary total of 122 transactions made public in June 2018, deal volume was down 10% compared with May’s 135 deals. Deal volume compared to June 2017 was off 8%.

Long-Term Care deals, which typically make up the greatest share of monthly volume, were down to just 22 transactions (18% share) compared with 35 in the previous month. That’s the way the second quarter played out in this sector, with April deal volume spiking to the high 40s, then gradually trailing off in May and June.

The Physician Medical Group sector was going stronger than ever, however. Thirteen transactions were announced in Juen, compared with 10 in May and 11 the year before. Spending in this sector was also high, $10 billion, thanks to KKR & Co.‘s (NYSE: KKR) $9.9 billion takeover of Envision Healthcare (NYSE: EVHC).

Deal value was also lower than May 2018. June 2018 turned in a respectable preliminary total of nearly $26.0 billion, which is 48% higher than the $17.5 billion from June 2017. May 2018’s deal value was extraordinary, at $88.6 billion, thanks to Takeda Pharmaceutical‘s (TSE: 4502) takeover of rare-disease drug maker Shire plc (NASDAQ: SHPG) for $81.5 billion, including debt.