Constituent Stock Performance: RQQ.TO tracks the Nasdaq 100. The price is heavily influenced by the collective performance of its underlying holdings, primarily the largest tech companies.

Currency Fluctuations: As RQQ.TO is a Canadian-listed ETF holding primarily US stocks, fluctuations in the CAD/USD exchange rate can impact its price. A stronger Canadian dollar may decrease the ETF's value, while a weaker one may increase it.

Investor Demand: Increased demand for RQQ.TO pushes the price upward, while higher selling pressure can decrease it. Overall market sentiment and trends contribute.

Index Tracking: RQQ.TO aims to mirror the Nasdaq 100. Deviations from the index's returns can create tracking error, impacting the ETF's price, but this is typically small.

Management Fees & Expenses: The ETF's expense ratio, although small, slightly reduces returns and therefore affects the ETF price over the long term compared to the underlying index.

Market Conditions: Broad economic factors, interest rates, and geopolitical events that influence the overall stock market will also impact RQQ.TO.