<ARTICLE> 6

                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               DEC-31-1999
<INVESTMENTS-AT-COST>                      166,807,973
<INVESTMENTS-AT-VALUE>                     165,707,385
<RECEIVABLES>                                3,829,528
<ASSETS-OTHER>                               5,485,502
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             175,022,415
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                     72,400,000
<OTHER-ITEMS-LIABILITIES>                    1,203,595
<TOTAL-LIABILITIES>                         73,603,595
<SENIOR-EQUITY>                                  6,839
<PAID-IN-CAPITAL-COMMON>                   102,676,963
<SHARES-COMMON-STOCK>                        6,839,331
<SHARES-COMMON-PRIOR>                        4,954,304
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      9,968,531
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (1,100,588)
<NET-ASSETS>                               101,418,820
<DIVIDEND-INCOME>                            1,011,359
<INTEREST-INCOME>                            4,145,571
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               7,334,094
<NET-INVESTMENT-INCOME>                    (2,177,164)
<REALIZED-GAINS-CURRENT>                    40,352,644
<APPREC-INCREASE-CURRENT>                 (45,412,285)
<NET-CHANGE-FROM-OPS>                      (7,236,805)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                    23,814,714
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                    108,873
<SHARES-REINVESTED>                          1,337,542
<NET-CHANGE-IN-ASSETS>                    (14,736,208)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (6,569,399)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        2,179,413
<INTEREST-EXPENSE>                           2,163,593
<GROSS-EXPENSE>                              7,334,094
<AVERAGE-NET-ASSETS>                       108,786,924
<PER-SHARE-NAV-BEGIN>                            23.45
<PER-SHARE-NII>                                  (.44)
<PER-SHARE-GAIN-APPREC>                         (1.02)
<PER-SHARE-DIVIDEND>                            (4.25)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.61
<EXPENSE-RATIO>                                   6.74