Underlying Stock Performance: TQSAX's price is largely driven by the performance of the S&P 500. A rising S&P 500 generally leads to a higher TQSAX price, and vice versa.

Leverage: As a leveraged fund, TQSAX amplifies the daily returns of the S&P 500, affecting its price more dramatically than a non-leveraged index fund.

Interest Rates and Borrowing Costs: TQSAX uses borrowed funds to achieve its leverage. Changes in interest rates can impact the cost of borrowing, affecting its profitability and thus its price.

Market Sentiment: Overall investor confidence and risk appetite influence demand for leveraged ETFs like TQSAX, impacting its price.

Expense Ratio and Management Fees: The fees charged by the fund's managers reduce returns and can indirectly affect the fund's price over time.

Trading Volume and Liquidity: Higher trading volume typically indicates greater investor interest and easier price discovery. Lower liquidity can lead to wider bid-ask spreads and potential price volatility.