WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE. <ARTICLE> 6 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> JUN-30-1999 <INVESTMENTS-AT-COST> 162,549,792 <INVESTMENTS-AT-VALUE> 187,723,608 <RECEIVABLES> 2,296,986 <ASSETS-OTHER> 12,500 <OTHER-ITEMS-ASSETS> 0 <TOTAL-ASSETS> 190,033,094 <PAYABLE-FOR-SECURITIES> 0 <SENIOR-LONG-TERM-DEBT> 73,350,000 <OTHER-ITEMS-LIABILITIES> 1,273,356 <TOTAL-LIABILITIES> 74,623,356 <SENIOR-EQUITY> 4,954 <PAID-IN-CAPITAL-COMMON> 77,917,681 <SHARES-COMMON-STOCK> 4,954,304 <SHARES-COMMON-PRIOR> 4,954,304 <ACCUMULATED-NII-CURRENT> 0 <OVERDISTRIBUTION-NII> 0 <ACCUMULATED-NET-GAINS> 12,313,287 <OVERDISTRIBUTION-GAINS> 0 <ACCUM-APPREC-OR-DEPREC> 25,173,816 <NET-ASSETS> 115,409,738 <DIVIDEND-INCOME> 457,473 <INTEREST-INCOME> 2,039,780 <OTHER-INCOME> 0 <EXPENSES-NET> 2,994,848 <NET-INVESTMENT-INCOME> (497,595) <REALIZED-GAINS-CURRENT> 18,882,686 <APPREC-INCREASE-CURRENT> (19,137,881) <NET-CHANGE-FROM-OPS> (752,790) <EQUALIZATION> 0 <DISTRIBUTIONS-OF-INCOME> 0 <DISTRIBUTIONS-OF-GAINS> 0 <DISTRIBUTIONS-OTHER> 0 <NUMBER-OF-SHARES-SOLD> 0 <NUMBER-OF-SHARES-REDEEMED> 0 <SHARES-REINVESTED> 0 <NET-CHANGE-IN-ASSETS> (752,790) <ACCUMULATED-NII-PRIOR> 0 <ACCUMULATED-GAINS-PRIOR> (6,569,399) <OVERDISTRIB-NII-PRIOR> 0 <OVERDIST-NET-GAINS-PRIOR> 0 <GROSS-ADVISORY-FEES> 1,113,393 <INTEREST-EXPENSE> 1,487,248 <GROSS-EXPENSE> 2,994,848 <AVERAGE-NET-ASSETS> 115,762,383 <PER-SHARE-NAV-BEGIN> 23.45 <PER-SHARE-NII> (0.10) <PER-SHARE-GAIN-APPREC> (0.06) <PER-SHARE-DIVIDEND> 0 <PER-SHARE-DISTRIBUTIONS> 0 <RETURNS-OF-CAPITAL> 0 <PER-SHARE-NAV-END> 23.29 <EXPENSE-RATIO> 2.59 [AVG-DEBT-OUTSTANDING] 37,972,099 [AVG-DEBT-PER-SHARE] 7.66