Nasdaq-100 Equal Weighted Index Performance: The ETF's price is heavily influenced by the performance of the Nasdaq-100 Equal Weighted Index it tracks. If the index rises, the ETF's price will generally increase, and vice versa.

Supply and Demand: Market forces of supply and demand also affect the ETF's price. High demand can drive up the price, while increased selling pressure can lower it.

Expense Ratio: The ETF's expense ratio, while relatively small, can incrementally affect its overall return and thus its price over time. A higher expense ratio reduces net returns.

Trading Volume and Liquidity: Higher trading volume and liquidity typically lead to tighter bid-ask spreads, making it easier to buy and sell shares at a fair price. Lower liquidity can result in wider spreads and potentially impact the price.

Economic Conditions and Market Sentiment: Broad economic factors and overall market sentiment can also impact the price of the ETF. Positive economic news and bullish market sentiment can boost the ETF's price, while negative news and bearish sentiment can depress it.