<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
Municipal Income Opportunities Trust
Semi Annual 11/30/97
</LEGEND>
<CIK> 0000835333
<NAME> MUNICIPAL INCOME OPPORTUNITIES TRUST
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                      180,173,759
<INVESTMENTS-AT-VALUE>                     177,404,028
<RECEIVABLES>                                4,442,854
<ASSETS-OTHER>                                 280,685
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             182,127,567
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      255,082
<TOTAL-LIABILITIES>                            255,082
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   199,754,364
<SHARES-COMMON-STOCK>                       21,089,872
<SHARES-COMMON-PRIOR>                       21,089,872
<ACCUMULATED-NII-CURRENT>                    2,582,232
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                   (17,694,380)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (2,769,731)
<NET-ASSETS>                               181,872,485
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 921,719
<NET-INVESTMENT-INCOME>                      5,843,151
<REALIZED-GAINS-CURRENT>                     (662,788)
<APPREC-INCREASE-CURRENT>                    4,313,609
<NET-CHANGE-FROM-OPS>                        3,650,821
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (6,221,375)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       3,272,597
<ACCUMULATED-NII-PRIOR>                      2,960,456
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<GROSS-ADVISORY-FEES>                          452,591
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                925,907
<AVERAGE-NET-ASSETS>                       180,046,898
<PER-SHARE-NAV-BEGIN>                             8.47
<PER-SHARE-NII>                                   0.28
<PER-SHARE-GAIN-APPREC>                           0.17
<PER-SHARE-DIVIDEND>                            (0.30)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.62
<EXPENSE-RATIO>                                   1.02
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>