WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MUNICIPAL ADVANTAGE FUND SEMI-ANNUAL REPORT FOR THE PERIOD ENDED APRIL 30, 2000.
</LEGEND>
<CIK> 0000897951
<NAME> MUNICIPAL ADVANTAGE FUND INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 151,965,540
<INVESTMENTS-AT-VALUE> 148,574,916
<RECEIVABLES> 2,763,116
<ASSETS-OTHER> 61,615
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 151,399,647
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 726,191
<TOTAL-LIABILITIES> 726,191
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100,625,610
<SHARES-COMMON-STOCK> 7,257,093
<SHARES-COMMON-PRIOR> 7,257,093
<ACCUMULATED-NII-CURRENT> 96,194
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,657,724)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3,390,624)
<NET-ASSETS> 150,673,456
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,497,374
<OTHER-INCOME> 0
<EXPENSES-NET> 679,603<F1>
<NET-INVESTMENT-INCOME> 3,817,771
<REALIZED-GAINS-CURRENT> (793,543)
<APPREC-INCREASE-CURRENT> 961,161
<NET-CHANGE-FROM-OPS> 3,985,389
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,974,649
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 10,740
<ACCUMULATED-NII-PRIOR> 253,072
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 448,795
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 682,655
<AVERAGE-NET-ASSETS> 150,420,253
<PER-SHARE-NAV-BEGIN> 13.18
<PER-SHARE-NII> 0.53
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> (0.55)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.18
<EXPENSE-RATIO> 1.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>GROSS OF EXPENSE OFFSET OF $3,052.
</FN>
</TABLE>
