NASDAQ 100 Performance: QQU.TO is a leveraged ETF tracking the NASDAQ 100, so its price heavily depends on that index's performance. Positive NASDAQ 100 performance generally increases QQU.TO's price, while negative performance decreases it.

Leverage Factor: As a leveraged ETF, QQU.TO aims to deliver twice the daily performance of the NASDAQ 100. This leverage magnifies both gains and losses compared to a non-leveraged ETF. A small NASDAQ 100 move results in a larger QQU.TO price swing.

Interest Rates: Interest rates influence the cost of maintaining the leveraged position. Higher rates increase the cost, potentially impacting QQU.TO's returns and price.

Volatility: High NASDAQ 100 volatility can erode QQU.TO's returns due to the daily reset mechanism inherent in leveraged ETFs. This phenomenon, known as volatility decay, can cause QQU.TO to underperform a simple 2x return of the NASDAQ 100 over longer periods.

Supply and Demand: Like any ETF, QQU.TO's price is also affected by supply and demand. High demand can push the price above its net asset value (NAV), while high supply can depress it.

Management Fees and Expenses: The ETF's management fees and other operating expenses are deducted from its returns, which slightly influences its price over time.