In the past 20 years (since 2005 with the introduction of RegSho), short selling has come under scrutiny as millions of retail investors have discovered what we have been highlighting since early 2005. Market makers abuse the “market maker’s exemption” and short excessive amounts of shares in your stock without locating, borrowing, paying the rebate or the interest rate to borrow. They are required to cover on the same trading day, and our data proves they do not.

The chart below shows “Daily Short Volume” in Pioneer Municipal High Income Fund, Inc (MHI), and includes both EXEMPT (market makers) and NON-EXEMPT (everyone else) short sales. We consolidate the tape of all 14 US stock exchanges and purchase the “sell short” trade identifier data directly from the exchanges on a daily basis. This complete view of the trading in your stock shows a vastly different picture than “Total Short Interest”, which only includes non-exempt short sales that have not been covered by the twice per month reporting date. Unfortunately, this misses the majority of the short selling.

This indicates that a Short Squeeze may be starting in shares of Pioneer Municipal High Income Fund, Inc at $9.72, after crossing above the $9.483 Trigger Price. This could signal a buying opportunity, given the right market conditions.

You can find the full report at https://www.woprai.com/

Please find the applicable data below, drawn from all major market providers.

Date	Short Volume	Total Volume	Percentage	Squeeze Trigger	$ Value
2025-06-05	19,720	99,519	19.82	9.12	179,846
2025-06-04	13,885	67,486	20.57	9.14	126,909
2025-06-03	7,493	53,227	14.08	9.11	68,261
2025-06-02	18,644	61,509	30.31	9.11	169,847
2025-05-30	13,547	28,363	47.76	9.18	124,361
2025-05-29	19,565	43,327	45.16	9.14	178,824
2025-05-28	10,687	162,652	6.57	9.07	96,931
2025-05-27	16,877	52,210	32.33	9.1	153,581
2025-05-23	15,634	37,771	41.39	9.07	141,800
2025-05-22	20,442	75,290	27.15	9.06	185,205
2025-05-21	22,048	52,055	42.36	9.16	201,960
2025-05-20	20,659	40,189	51.4	9.2	190,063
2025-05-19	19,596	44,225	44.31	9.19	180,087
2025-05-16	10,538	35,379	29.79	9.26	97,582
2025-05-15	23,536	55,990	42.04	9.31	219,120
2025-05-14	20,320	41,964	48.42	9.29	188,773
2025-05-13	4,369	28,194	15.5	9.29	40,588
2025-05-12	18,053	40,977	44.06	9.3	167,893
2025-05-09	55,419	173,307	31.98	9.3	515,397
2025-05-08	15,318	50,615	30.26	9.1	139,394
2025-05-07	26,073	63,649	40.96	9.12	237,786
2025-05-06	4,117	19,825	20.77	9.12	37,547
2025-05-05	18,147	34,194	53.07	9.1	165,138
2025-05-02	5,344	14,344	37.26	9.11	48,684
2025-05-01	15,090	65,211	23.14	9.1	137,319
2025-04-30	17,862	68,240	26.18	9.06	161,830
2025-04-29	13,799	49,654	27.79	9.05	124,881
2025-04-28	22,807	57,569	39.62	9.04	206,175
2025-04-25	22,740	93,322	24.37	9.02	205,115
2025-04-24	11,046	43,215	25.56	8.93	98,641
2025-04-23	12,041	44,763	26.9	8.83	106,322
2025-04-22	27,774	61,643	45.06	8.77	243,578
2025-04-21	22,070	94,657	23.32	8.69	191,788
2025-04-17	7,993	29,271	27.31	8.73	69,779
2025-04-16	3,292	27,205	12.1	8.76	28,838
2025-04-15	12,267	57,822	21.22	8.74	107,214
2025-04-14	7,240	42,749	16.94	8.74	63,278

Total	26,698,825	92,433,429	28.88	9.48	253,178,914

* Totals include all data records back to 2020-06-08 00:00:00, data set is truncated for viewing.

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Short squeeze is starting in shares of MHI at $9.72, after crossing above the $9.483 Trigger Price