WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000807607
<NAME> Federated Municipal Opportunities Fund, Inc.
<SERIES>
<NUMBER> 001
<NAME> Federated Municipal Opportunities Fund, Inc. Class A Shares
<S> <C>
<PERIOD-TYPE> 12- MOS
<FISCAL-YEAR-END> Aug-31-2000
<PERIOD-END> Aug-31-2000
<INVESTMENTS-AT-COST> 385,220,738
<INVESTMENTS-AT-VALUE> 378,259,143
<RECEIVABLES> 15,092,729
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 28,649
<TOTAL-ASSETS> 393,380,521
<PAYABLE-FOR-SECURITIES> 4,687,887
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 527,499
<TOTAL-LIABILITIES> 5,215,386
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 426,568,237
<SHARES-COMMON-STOCK> 9,501,194
<SHARES-COMMON-PRIOR> 10,691,412
<ACCUMULATED-NII-CURRENT> 1,636,960
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (33,078,467)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (6,961,595)
<NET-ASSETS> 92,882,717
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,774,963
<OTHER-INCOME> 0
<EXPENSES-NET> (5,030,651)
<NET-INVESTMENT-INCOME> 22,744,312
<REALIZED-GAINS-CURRENT> (9,212,625)
<APPREC-INCREASE-CURRENT> (10,822,213)
<NET-CHANGE-FROM-OPS> 2,709,474
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,545,498)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,703,088
<NUMBER-OF-SHARES-REDEEMED> (4,293,682)
<SHARES-REINVESTED> 400,376
<NET-CHANGE-IN-ASSETS> (75,841,473)
<ACCUMULATED-NII-PRIOR> 1,805,038
<ACCUMULATED-GAINS-PRIOR> (23,865,842)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,442,245
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5,030,651
<AVERAGE-NET-ASSETS> 95,810,046
<PER-SHARE-NAV-BEGIN> 10.220
<PER-SHARE-NII> 0.560
<PER-SHARE-GAIN-APPREC> (0.440)
<PER-SHARE-DIVIDEND> (0.560)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.780
<EXPENSE-RATIO> 1.09
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>