A New Ozempic-Inspired ETF Is Hitting the Stock Market

• There is a new ETF hitting the market that cashes within the Ozempic-fueled weight reduction craze.
• HRTS is monitoring a listing of firms concerned in anti-obesity and cardiovascular-related remedies.
• The ETF holds positions in round 20 firms, together with Novo Nordisk and Eli Lilly.

There is a new exchange-traded fund that simply acquired listed, and it is cashing in on the Ozempic-fueled weight reduction craze that is gripped the inventory market this 12 months.

The Tema Cardiovascular and Metabolic ETF (HRTS) made its inventory market debut Tuesday on the Nasdaq.

The exchange-traded fund holds positions in round 20 firms which might be concerned within the remedy of heart problems, weight problems, and diabetes, the ETF offerer mentioned.

That features shares of Ozempic and Wegovy-maker Novo Nordisk in addition to these of Mounjaro maker Eli Lilly. These shares have soared amid this 12 months’s frenzy for GLP-1 medication.

HRTS opened with a value of $26.82 on Tuesday, and stayed principally flat in early-morning buying and selling.

Comparable exchange-traded funds, just like the iShares Biotechnology ETF and the SPDR S&P Biotech ETF, have traded principally flat in comparison with ranges at the beginning of the 12 months. However that is because of the fading recognition of thematic ETF investments: traders have pulled out $4.7 billion from such funds this 12 months, based on Bloomberg Intelligence information. That is in distinction to 2021, when these funds noticed $49 billion rush in.

In the meantime, GLP-1 medication have already switched up management within the biopharmaceutical house. Novo Nordisk is now Europe’s largest firm at a $452 billion valuation. Eli Lilly has soared to be among the many high 10 S&P 500 firms this 12 months, with a $562 billion valuation.