The shark was seen about 150 yards from Nauset Beach, prompting officials to close the beach for an hour Sunday, The Boston Globe reported.
Swimmers were eventually allowed back in the water and no other sharks were spotted.
Some business owners say sharks prowling the area's waters drive away tourists, the Boston Herald reported.
"A lot of our customers are people who come for the weekends," said Jimmy Mitrokostas, the owner's son at Cooke's Seafood. "When they can't take advantage of the beaches, they don't come down."
Mitrokostas said last summer, after beaches closed because of sharks, fewer customers came to his restaurant.
But Ed Maas, owner of Orleans Waterfront Inn, said sharks actually draw in some curious tourists.
"A lot of people like to come for the excitement," Maas said.
Maas said tourists come if the weather is nice and a shark sighting is just "icing on the cake."