<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                      166,857,476
<INVESTMENTS-AT-VALUE>                     240,805,763
<RECEIVABLES>                                1,349,931
<ASSETS-OTHER>                                  15,766 
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             242,171,460
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                   89,463,492
<TOTAL-LIABILITIES>                         89,463,492
<SENIOR-EQUITY>                             74,254,171
<PAID-IN-CAPITAL-COMMON>                    78,453,797
<SHARES-COMMON-STOCK>                        4,828,492
<SHARES-COMMON-PRIOR>                        4,828,492
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               152,707,968
<DIVIDEND-INCOME>                              766,667
<INTEREST-INCOME>                              428,186
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,278,314
<NET-INVESTMENT-INCOME>                       (83,461)
<REALIZED-GAINS-CURRENT>                       265,743
<APPREC-INCREASE-CURRENT>                    8,054,934
<NET-CHANGE-FROM-OPS>                        8,237,217
<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>                       8,237,217
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          763,540
<INTEREST-EXPENSE>                             317,631
<GROSS-EXPENSE>                              1,278,314
<AVERAGE-NET-ASSETS>                       148,589,360
<PER-SHARE-NAV-BEGIN>                            29.92
<PER-SHARE-NII>                                 (0.02)
<PER-SHARE-GAIN-APPREC>                           1.73
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              31.63
<EXPENSE-RATIO>                                   0.86
<AVG-DEBT-OUTSTANDING>                      13,399,722
<AVG-DEBT-PER-SHARE>                              2.78
        

</TABLE>