Short squeeze is starting in shares of NIE at $23.25, after crossing above the $23.248 Trigger Price

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 Virtus Equity & Convertible Income Fund (NIE), 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 Virtus Equity & Convertible Income Fund at $23.25, after crossing above the $23.248 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
2025-06-23	25,605	113,701	22.52	22.99	588,659
2025-06-20	12,526	44,844	27.93	22.9	286,845
2025-06-18	37,057	93,804	39.5	22.99	851,940
2025-06-17	18,274	67,461	27.09	22.94	419,206
2025-06-16	12,945	38,979	33.21	23.08	298,771
2025-06-13	12,373	47,569	26.01	22.96	284,084
2025-06-12	23,450	42,211	55.55	23.14	542,633
2025-06-11	23,023	65,154	35.34	23.63	544,033
2025-06-10	24,203	59,046	40.99	23.64	572,159
2025-06-09	20,041	61,956	32.35	23.61	473,168
2025-06-06	15,851	46,173	34.33	23.5	372,499
2025-06-05	17,326	54,688	31.68	23.4	405,428
2025-06-04	18,344	81,642	22.47	23.37	428,699
2025-06-03	8,640	35,337	24.45	23.27	201,053
2025-06-02	19,031	49,507	38.44	23.11	439,806
2025-05-30	13,622	97,266	14	23.07	314,260
2025-05-29	19,138	58,204	32.88	23.24	444,767
2025-05-28	6,930	41,188	16.83	23.12	160,222
2025-05-27	23,911	56,915	42.01	23.22	555,213
2025-05-23	19,827	41,649	47.6	22.9	454,038
2025-05-22	15,666	47,816	32.76	22.98	360,005
2025-05-21	22,047	55,381	39.81	23.13	509,947
2025-05-20	15,004	44,521	33.7	23.22	348,393
2025-05-19	15,464	49,011	31.55	23.18	358,456
2025-05-16	11,162	36,779	30.35	23.28	259,851
2025-05-15	9,518	28,667	33.2	23.21	220,913
2025-05-14	15,686	48,018	32.67	23.12	362,660
2025-05-13	12,196	44,532	27.39	23.03	280,874
2025-05-12	27,414	80,917	33.88	22.88	627,232
2025-05-09	8,782	23,740	36.99	22.31	195,926
2025-05-08	14,422	49,521	29.12	22.34	322,187
2025-05-07	28,132	72,992	38.54	22.21	624,812
2025-05-06	25,420	56,277	45.17	22.09	561,528
2025-05-05	14,945	47,347	31.56	22.21	331,928
2025-05-02	19,937	58,048	34.35	22.29	444,396
2025-05-01	24,434	68,367	35.74	22.1	539,991
2025-04-30	20,995	59,112	35.52	21.7	455,592

Total	33,673,261	95,353,026	35.31	23.25	782,861,207

* Totals include all data records back to 2020-06-25 00:00:00, data set is truncated for viewing.