Tema Oncology ETF (NASDAQ:CANC) Sees Large Growth in Short Interest

Tema Oncology ETF (NASDAQ:CANC) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 22,352 shares, a growth of 108.9% from the August 15th total of 10,698 shares. Based on an average daily trading volume, of 22,950 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Tema Oncology ETF stock. Roxbury Financial LLC raised its stake in Tema Oncology ETF (NASDAQ:CANC) by 326.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,940 shares of the company’s stock after purchasing an additional 3,016 shares during the period. Roxbury Financial LLC owned 0.08% of Tema Oncology ETF worth $162,000 as of its most recent SEC filing.

Tema Oncology ETF Price Performance

Shares of NASDAQ:CANC traded down $0.01 during midday trading on Wednesday, reaching $41.56. The company had a trading volume of 2,407 shares, compared to its average volume of 31,312. The stock’s fifty day moving average price is $42.46 and its 200-day moving average price is $39.37. The stock has a market capitalization of $207.78 million, a P/E ratio of 20.39 and a beta of 0.69. Tema Oncology ETF has a one year low of $26.62 and a one year high of $47.00.

About Tema Oncology ETF

The Tema Oncology ETF (CANC) is an exchange-traded fund that mostly invests in health care equity. The fund is actively managed, investing in stocks of companies focused on cancer treatment and management from issuers all around the world. The fund uses a bottom-up approach to select pioneering companies at perceived attractive valuations CANC was launched on Aug 15, 2023 and is issued by Tema.