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SIGNATURE MARK BIDERMAN
TITLE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000897951
<NAME> MUNICIPAL ADVANTAGE FUND INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-START> NOV-01-1995
<PERIOD-END> OCT-31-1996
<INVESTMENTS-AT-COST> 149562206
<INVESTMENTS-AT-VALUE> 153353569
<RECEIVABLES> 4213754
<ASSETS-OTHER> 56959
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 157624282
<PAYABLE-FOR-SECURITIES> 489649
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 837334
<TOTAL-LIABILITIES> 1326983
<SENIOR-EQUITY> 55000000
<PAID-IN-CAPITAL-COMMON> 100625610
<SHARES-COMMON-STOCK> 7257093
<SHARES-COMMON-PRIOR> 7257093
<ACCUMULATED-NII-CURRENT> 334661
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3454335)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3791363
<NET-ASSETS> 156297299
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9273853
<OTHER-INCOME> 0
<EXPENSES-NET> (1395620)
<NET-INVESTMENT-INCOME> 7878233
<REALIZED-GAINS-CURRENT> (153052)
<APPREC-INCREASE-CURRENT> 1411332
<NET-CHANGE-FROM-OPS> 9136513
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7747599
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1388914
<ACCUMULATED-NII-PRIOR> 204027
<ACCUMULATED-GAINS-PRIOR> (3301283)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 929882
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1399069
<AVERAGE-NET-ASSETS> 99980261<F1>
<PER-SHARE-NAV-BEGIN> 13.77
<PER-SHARE-NII> 1.09
<PER-SHARE-GAIN-APPREC> 0.17
<PER-SHARE-DIVIDEND> (1.07)
<PER-SHARE-DISTRIBUTIONS> 0
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<EXPENSE-RATIO> 1.40
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<FN>
<F1>(75) Ratios calculated on the basis of income and expenses applicable to
both the common and preferred shares relative to the average net assets of
common shareholders.
</FN>
</TABLE>
