Component Stock Performance: VEGN tracks an index of vegan-friendly companies. The price movements of these underlying stocks significantly influence VEGN's ETF price.

Investor Demand: Increased buying pressure pushes the price up, while selling pressure causes it to decline. Overall market sentiment towards veganism and ESG investments impacts demand.

Expense Ratio: Though not a direct driver of daily price changes, a higher expense ratio can reduce long-term returns compared to similar ETFs.

Index Tracking Accuracy: How closely VEGN mirrors its target index affects its price. Imperfect tracking can lead to slight deviations from the index's overall performance.

Economic Conditions: Broad economic factors like interest rates, inflation, and GDP growth can impact the valuations of the companies held within VEGN.

Supply of Shares: The ETF's issuer can create or redeem shares based on demand. A limited supply relative to demand can increase the price, and vice-versa.

News and Events: Positive or negative news affecting the vegan industry or specific companies within VEGN can trigger price fluctuations.