Saba Capital Amends BlackRock MuniYield NY Quality Fund Stake

TL;DR

**Saba Capital just updated their stake in BlackRock MuniYield NY Quality Fund, watch for potential moves!**

AI Summary

Saba Capital Management, L.P. filed an amended Schedule 13D/A on February 20, 2024, regarding its ownership in BlackRock MuniYield New York Quality Fund, Inc. The filing indicates an update to their beneficial ownership of Common Shares, $0.10 par value, in the issuer. This amendment (Amendment No. 1) was filed by Saba Capital Management, L.P., a Delaware-incorporated entity, with its business address at 405 Lexington Avenue, New York, NY.

Why It Matters

This filing updates the public record on a significant investor's position in a closed-end fund, potentially signaling changes in investment strategy or activist intent.

Risk Assessment

Risk Level: medium — Changes in significant shareholder positions can lead to volatility or strategic shifts within the target company.

Key Numbers

• $0.10 — Par Value per Share (Common Shares of BlackRock MuniYield New York Quality Fund, Inc.)

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity and beneficial owner
• BLACKROCK MUNIYIELD NEW YORK QUALITY FUND, INC. (company) — Subject company (issuer)
• BOAZ R. WEINSTEIN (person) — Group member
• SABA CAPITAL MANAGEMENT GP, LLC (company) — Group member
• $0.10 (dollar_amount) — Par value of common shares

FAQ

Key Financial Figures

• $0.10 — INC (Name of Issuer) Common Shares, $0.10 par value (Title of Class of Securiti
• $19,883,850 — ported herein. A total of approximately $19,883,850 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 63KB
• exhibit2.htm (EX-2) — 15KB
• 0001062993-24-003560.txt ( ) — 79KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: On February 16, 2024, Saba Capital Master Fund, Ltd., a private fund advised by Saba Capital, submitted to the Issuer a notice of intent informing the Issuer of its intention to nominate two independent director candidates - Alex Vindman and Jennifer Raab (the " Nominees ") - for election to the Board at the Issuer's 2024 annual meeting of shareholders (the " Annual Meeting "). Each of the Nominees has entered into a nomination agreement (collectively, the " Nominee Agreement ") with Saba Capital substantially in the form attached as Exhibit 2 to this Schedule 13D/A, whereby such Nominees agreed to become members of a slate of nominees and stand for election as directors of the Issuer in connection with a proxy solicitation which may be conducted in respect of the Annual Meeting, and Saba Capital agreed to defend and indemnify such Nominees against, and with respect to, any losses that may be incurred by such Nominees in the event they become a party to litigation based on their nomination as candidates for election to the Board and the solicitation of proxies in support of their election. The foregoing summary of the Nominee Agreement is not complete and is qualified in its entirety by reference to the full text of the form of Nominee Agreement, a copy of which is attached as Exhibit 2 and is incorporated by reference herein. CUSIP No. 09255E102 SCHEDULE 13D/A Page 6 of 8 Pages Item 5. INTEREST IN SECURITIES OF THE ISSUER (a) See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 38,721,746 shares of common stock outstanding as of 7/31/23, as disclosed in the company's N-CSR filed 10/05/23 (b) See rows (7) through (10) of the cover pages to this Schedule 13D/A for the number of Common Shares as to which

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: February 20, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823 CUSIP No. 09255E102 SCHEDULE 13D/A Page 8 of 8 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital during the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 12/22/2023 Buy 12,832 10.31 12/26/2023 Buy 44,654 10.32 12/27/2023 Buy 1,366 10.38 12/29/2023 Buy 5 10.38 1/8/2024 Buy 2,227 10.35 1/30/2024 Buy 3,150 10.23 2/6/2024 Buy 20,226 10.20 2/7/2024 Buy 4,913 10.26 2/8/2024 Buy 3,185 10.26 2/15/2024 Buy 3,857 10.25 2/16/2024 Buy 65,255 10.26

View Full Filing

View this SC 13D/A filing on SEC EDGAR