Fund Performance: How well the fund has performed historically, relative to its benchmark and peer group, significantly impacts investor demand and thus, the price.

Market Conditions: General market sentiment, especially within the technology sector which the Nasdaq 100 represents, heavily influences the price. Bull markets tend to lift all boats.

Interest Rates: Changes in interest rates, particularly those set by the Federal Reserve, can affect the attractiveness of growth stocks (common in the Nasdaq) compared to fixed income investments.

Economic Data: Economic indicators such as GDP growth, inflation, and unemployment rates can impact investor confidence and corporate earnings expectations, thus affecting the Nasdaq and the fund's price.

Company Performance: The performance of major companies within the Nasdaq 100 (e.g., Apple, Microsoft, Amazon) directly affects the fund's overall value, as their stocks comprise a large percentage of the index.

Geopolitical Events: Global political and economic events, such as trade wars, geopolitical tensions, or major policy changes, can create market volatility and affect investor sentiment towards risk assets.

Fund Flows: Significant inflows or outflows of money into or out of the fund can put upward or downward pressure on the price, as the fund manager needs to buy or sell underlying securities to match the flow.

Expense Ratio: While not a direct driver of short-term price changes, a higher expense ratio can detract from long-term returns, making the fund less attractive compared to similar lower-cost options.

Currency Fluctuations: If the fund holds international securities, changes in currency exchange rates can affect the value of those holdings and the overall fund price (less applicable if primarily US-focused).