Saba Capital Amends Filing for BlackRock MuniYield Fund

TL;DR

Saba Capital just updated its stake in BlackRock MuniYield NY Quality Fund. Watch this space.

AI Summary

Saba Capital Management, L.P. has filed an amendment (Amendment No. 3) to its Schedule 13D concerning BlackRock MuniYield New York Quality Fund, Inc. The filing, dated May 21, 2024, indicates a change in the beneficial ownership of the Fund's common shares. Saba Capital Management, L.P. is listed as the filer, with its principal business address in New York, NY.

Why It Matters

This filing signals a potential shift in significant shareholding for BlackRock MuniYield New York Quality Fund, Inc., which could influence the fund's future strategy or governance.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in activist investor positions or strategic shifts, which can introduce uncertainty.

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
• BlackRock MuniYield New York Quality Fund, Inc. (company) — Subject company of the filing
• Boaz R. Weinstein (person) — Group member associated with the filing

FAQ

Key Financial Figures

• $0.10 — INC (Name of Issuer) Common Shares, $0.10 par value (Title of Class of Securiti
• $21,152,183 — ported herein. A total of approximately $21,152,183 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 59KB
• 0001062993-24-010875.txt ( ) — 61KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: The Reporting Persons issued the investor presentation (the "Investor Presentation") attached hereto as Exhibit 3 to shareholders (such exhibit to be deemed incorporated by reference in its entirety into this Item 4) providing their views on the Issuer and its Board, including value-unlocking steps it believes the Issuer should take. 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 38,313,208 shares of common stock outstanding as of 1/31/24, as disclosed in the company's N-CSRS filed 4/03/24. (b) See rows (7) through (10) of the cover pages to this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. (c) The transactions in the Common Shares effected in the last sixty days by the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. (d) The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Shares. (e) Not applicable. Item 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 3: Investor Presentation, incorporated herein by reference to the DFAN14A filed with the Securities and Exchange Commission on May 20, 2024. CUSIP No. 09255E102 SCHEDULE 13D/A Page 6 of 7 Pages

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: May 21, 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 7 of 7 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital in the last sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 4/1/2024 Buy 4 10.45 4/2/2024 Buy 5,175 10.44 4/4/2024 Sell (25,172) 10.40 4/30/2024 Sell (22,167) 10.03 5/1/2024 Sell (134,006) 10.05 5/2/2024 Sell (34,911) 10.05 5/3/2024 Sell (141,310) 10.12 5/17/2024 Sell (10,932) 10.35

View Full Filing

View this SC 13D/A filing on SEC EDGAR