<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 000
<NAME> Preferred Income Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-2000
<PERIOD-START> DEC-01-1999
<PERIOD-END> MAY-31-2000
<INVESTMENTS-AT-COST> 196,992,322
<INVESTMENTS-AT-VALUE> 183,538,368
<RECEIVABLES> 1,890,615
<ASSETS-OTHER> 296
<OTHER-ITEMS-ASSETS> 94,086
<TOTAL-ASSETS> 185,523,365
<PAYABLE-FOR-SECURITIES> 1,650,920
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 384,176
<TOTAL-LIABILITIES> 2,035,096
<SENIOR-EQUITY> 57,500,000
<PAID-IN-CAPITAL-COMMON> 141,848,237
<SHARES-COMMON-STOCK> 9,838,571
<SHARES-COMMON-PRIOR> 9,838,571
<ACCUMULATED-NII-CURRENT> 391,171
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2,797,185
<ACCUM-APPREC-OR-DEPREC> (13,453,954)
<NET-ASSETS> 183,488,269
<DIVIDEND-INCOME> 5,007,063
<INTEREST-INCOME> 2,259,192
<OTHER-INCOME> 0
<EXPENSES-NET> (922,768)
<NET-INVESTMENT-INCOME> 6,343,487
<REALIZED-GAINS-CURRENT> (1,485,531)
<APPREC-INCREASE-CURRENT> (10,209,150)
<NET-CHANGE-FROM-OPS> (5,351,194)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,756,930)
<DISTRIBUTIONS-OF-GAINS> (4,266,902)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (16,375,026)
<ACCUMULATED-NII-PRIOR> 804,614
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
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<AVERAGE-NET-ASSETS> 190,397,783
<PER-SHARE-NAV-BEGIN> 14.41
<PER-SHARE-NII> 0.65
<PER-SHARE-GAIN-APPREC> (1.18)
<PER-SHARE-DIVIDEND> (0.70)
<PER-SHARE-DISTRIBUTIONS> (0.43)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.75
<EXPENSE-RATIO> 1.39
</TABLE>
