Issuer Financial Health: BMO's overall profitability and balance sheet strength are key indicators. Strong financial results typically support higher preferred share prices.

Interest Rate Environment: Rising interest rates can negatively impact preferred share prices as newly issued preferred shares may offer higher yields, making existing ones less attractive.

Credit Rating: BMO's credit rating influences investor perception of risk. A downgrade can lead to a price decrease, while an upgrade may increase the price.

Market Sentiment: General market optimism or pessimism can affect demand for preferred shares. A risk-off environment may reduce demand.

Specific News: Company announcements, such as earnings reports, dividend policy changes, or restructurings, can directly influence investor confidence and trading activity.

Liquidity: The trading volume of BN-PC.TO affects price volatility. Lower liquidity can lead to wider bid-ask spreads and greater price swings.

Redemption Risk: Proximity to the potential redemption date impacts the price, as investors weigh the possibility of the shares being called by BMO.