<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 78650160
<INVESTMENTS-AT-VALUE> 82725738
<RECEIVABLES> 1203614
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 83929352
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63362
<TOTAL-LIABILITIES> 63362
<SENIOR-EQUITY> 26600000
<PAID-IN-CAPITAL-COMMON> 49483608
<SHARES-COMMON-STOCK> 5300000
<SHARES-COMMON-PRIOR> 5300000
<ACCUMULATED-NII-CURRENT> 3706502
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 302
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4075578
<NET-ASSETS> 83865990
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2374558
<OTHER-INCOME> 0
<EXPENSES-NET> 287669
<NET-INVESTMENT-INCOME> 2086889
<REALIZED-GAINS-CURRENT> 302
<APPREC-INCREASE-CURRENT> (33175)
<NET-CHANGE-FROM-OPS> 2054016
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1755750<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 298266
<ACCUMULATED-NII-PRIOR> 3375363
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 103608
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 287669
<AVERAGE-NET-ASSETS> 83341962
<PER-SHARE-NAV-BEGIN> 10.75
<PER-SHARE-NII> 0.39
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> 0.33<F2>
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.80
<EXPENSE-RATIO> 1.02
<FN>
<F1>Distributions from income to common shareholders = $1,258,750; distributions
from income to preferred shareholders = $497,000.
<F2>Dividends per share from net investment income to common shareholders = $0.24;
dividends per share from net investment income to preferred shareholders =
$0.09.
</FN>
</TABLE>
