PREFERRED INCOME FUND INC
NSAR-A, 1999-07-22
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<PAGE>      PAGE  1
000 A000000 05/31/99
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001 A000000 PREFERRED INCOME FUND INCORPORATED
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<PAGE>      PAGE  4
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SIGNATURE   RICHARD H. ROSE
TITLE       ASSISTANT TREASURER



<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 001
   <NAME> PREFERRED INCOME FUND, INC.

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-END>                               MAY-31-1999
<INVESTMENTS-AT-COST>                        200140246
<INVESTMENTS-AT-VALUE>                       208168171
<RECEIVABLES>                                  3275138
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                             87618
<TOTAL-ASSETS>                               211530927
<PAYABLE-FOR-SECURITIES>                        905000
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       472352
<TOTAL-LIABILITIES>                            1377352
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     141848237
<SHARES-COMMON-STOCK>                          9838571
<SHARES-COMMON-PRIOR>                          9838571
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           46843
<ACCUMULATED-NET-GAINS>                        2824256
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       8027925
<NET-ASSETS>                                 210153575
<DIVIDEND-INCOME>                              5197671
<INTEREST-INCOME>                              2101863
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1051650
<NET-INVESTMENT-INCOME>                        6247884
<REALIZED-GAINS-CURRENT>                       1673112
<APPREC-INCREASE-CURRENT>                    (4218658)
<NET-CHANGE-FROM-OPS>                          3702338
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (6077923)
<DISTRIBUTIONS-OF-GAINS>                     (5261030)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (9244349)
<ACCUMULATED-NII-PRIOR>                        1254377
<ACCUMULATED-GAINS-PRIOR>                      6548727
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           587895
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1051650
<AVERAGE-NET-ASSETS>                         212159910
<PER-SHARE-NAV-BEGIN>                            16.43
<PER-SHARE-NII>                                    .63
<PER-SHARE-GAIN-APPREC>                          (.26)
<PER-SHARE-DIVIDEND>                             (.62)
<PER-SHARE-DISTRIBUTIONS>                        (.53)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.50
<EXPENSE-RATIO>                                   1.36


</TABLE>


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