NUVEEN NEW YORK AMT-FREE QUALITY MUNICIPAL INCOME FUND

Major Shareholding Notification • Jun 9, 2010

SC 13G/A 1 sch13ga1-100531.htm SCHEDULE 13G/A sch13ga1-100531.htm Licensed to: Davidoff Malito & Hutcher LLP Document Created using EDGARizer 5.1.4.0 Copyright 1995 - 2009 Thomson Reuters. All rights reserved.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

Nuveen Insured New York Tax-Free Advantage Municipal Fund

(Name of Issuer)

Auction Rate Preferred Stock

(Title of Class of Securities)

670656-20-6

(CUSIP Number)

May 31, 2010

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[x] Rule 13d-1(b)

£ Rule 13d-1(c)

£ Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 670656-20-6

| 1. | Names
of Reporting Persons. | |
| --- | --- | --- |
| | I.R.S.
Identification Nos. of above persons (entities only). | |
| | Royal
Bank of Canada | |
| 2. | Check
the Appropriate Box if a Member of a group (See
Instructions) | |
| | (a)
[ ] | |
| | (b)
[ ] | |
| 3. | SEC
Use Only | |
| 4. | Citizenship
or Place of Organization | |
| | Canada | |
| Number
of Shares | 5. Sole
Voting Power | 0 |
| Beneficially Owned
By | 6. Shared
Voting Power | 0 |
| Each Reporting | 7. Sole
Dispositive Power | 0 |
| Person
With: | 8. Shared
Dispositive Power | 0 |
| 9. | Aggregate
Amount Beneficially Owned by Each Reporting Person | 0 |
| 10. | Check
if Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) | [ ] |
| 11. | Percent
of Class Represented by Amount in Row (9) | 0% |
| 12. | Type
of Reporting Person (See Instructions) | HC |

CUSIP No. 670656-20-6

| 1. | Names
of Reporting Persons. | |
| --- | --- | --- |
| | I.R.S.
Identification Nos. of above persons (entities only). | |
| | RBC
Capital Markets Corporation | |
| 2. | Check
the Appropriate Box if a Member of a group (See
Instructions) | |
| | (a)
[ ] | |
| | (b)
[ ] | |
| 3. | SEC
Use Only | |
| 4. | Citizenship
or Place of Organization | |
| | Minnesota | |
| Number
of Shares | 5. Sole
Voting Power | 0 |
| Beneficially Owned
By | 6. Shared
Voting Power | 0 |
| Each Reporting | 7. Sole
Dispositive Power | 0 |
| Person
With: | 8. Shared
Dispositive Power | 0 |
| 9. | Aggregate
Amount Beneficially Owned by Each Reporting Person | 0 |
| 10. | Check
if Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) | [ ] |
| 11. | Percent
of Class Represented by Amount in Row (9) | 0% |
| 12. | Type
of Reporting Person (See Instructions) | BD |

Item 1.

(a) Name of Issues

Nuveen Insured New York Tax Free Advantage Municipal Fund

(b) Address of Issuer’s Principal Executive Offices

333 West Wacker Drive

Chicago, IL 60606

Item 2.

(a) Name of Person Filing

1. Royal Bank of Canada

2. RBC Capital Markets Corporation

(b) Address of Principal Business Office or, if none, Residence

1. 200 Bay Street

Toronto, Ontario M5J 2J5

Canada

1. One Liberty Plaza

165 Broadway

New York, New York 10006

(c) Citizenship

See Item 4 of the cover pages.

(d) Title of Class of Securities

Auction Rate Preferred Stock

(e) CUSIP Numbers

670656-20-6

ITEM 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

| (a) | [X] | Broker
or dealer registered under section 15 of the Act (15 U.S.C.
78o). |
| --- | --- | --- |
| (b) | £ | Bank
as defined in section 3(a)(6) of the Act (15 U.S.C.
78c). |
| (c) | £ | Insurance
company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c). |
| (d) | £ | Investment
company registered under section 8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8). |
| (e) | £ | An
investment adviser in accordance with
§240.13d-1(b)(1)(ii)(E). |
| (f) | £ | An
employee benefit plan or endowment fund in accordance with
§240.13d-1(b)(1)(ii)(F). |
| (g) | [X] | A
parent holding company or control person in accordance with
§240.13d-1(b)(1)(ii)(G). |
| (h) | £ | A
savings associations as defined in Section 3(b) of the Federal Deposit
Insurance Act (12 U.S.C. 1813). |
| (i) | £ | A
church plan that is excluded from the definition of an investment company
under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C.
80a-3). |
| (j) | £ | A
non-U.S. institution in accordance with Rule
13d-1(b)(1)(ii)(J). |
| (k) | £ | Group,
in accordance with
§240.13d-1(b)(1)(ii)(K). |

| Item
4. | Ownership | |
| --- | --- | --- |
| | Provide
the following information regarding the aggregate number and percentage of
the class of securities of the issuer identified in Item
1. | |
| | The
number of shares reported herein represents combined holdings in multiple
series of auction rate preferred securities of the issuer, which are
treated as one class of securities pursuant to the Securities and Exchange
Commission’s Auction Rate Securities Global Exemptive Relief no-action
letter issued on September 22, 2008. | |
| (a) | Amount
beneficially owned. See Item 9 of the Cover Pages. | |
| (b) | Percent
of class. See Item 11 of the Cover Pages. | |
| (c) | Number
of shares as to which the person has: | |
| | (1) | Sole
power to vote or to direct the vote See
Item 5 of the Cover Pages. |
| | (2) | Shared
power to vote or to direct the vote See
Item 6 of the Cover Pages. |
| | (3) | Sole
power to dispose or to direct the disposition of See
Item 7 of the Cover Pages. |
| | (4) | Shared
power to dispose or to direct the disposition of See
Item 8 of the Cover pages. |
| | Instruction: For
computations regarding securities which represent a right to acquire an
underlying security see §240.13d-3(d)(1). | |
| Item
5. | Ownership
of Five Percent or Less of Class | |
| | If
this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the
following: [X] | |
| Item
6. | Ownership
of More than Five Percent on Behalf of Another Person | |
| | Not
applicable. | |
| Item
7. | Identification
and Classification of the Subsidiary Which Acquired the Security Being
Reported on by the Parent Holding Company | |
| | RBC
Capital Markets Corporation is an indirectly wholly owned subsidiary of
Royal Bank of Canada. | |
| Item
8. | Identification
and Classification of Members of the Group | |
| | Not
applicable. | |
| Item
9. | Notice
of Dissolution of Group | |
| | Not
applicable. | |
| Item
10. | Certification | |
| | By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary
course of business and were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or
effect. | |

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: June 4, 2010

| ROYAL
BANK OF CANADA |
| --- |
| /s/
Tom Smee |
| Signature |
| Tom
Smee/Senior Vice President |
| Name/Title |
| /s/
Bruce Macdonald |
| Signature |
| Bruce
Macdonald/Executive Vice President |
| Name/Title |

| RBC
CAPITAL MARKETS CORPORATION |
| --- |
| */s/
John Penn |
| Signature |
| John
Penn/Authorized Signatory |
| Name/Title |

• This Schedule 13G/A was executed by John Penn pursuant to the power of attorney filed with the Securities and Exchange Commission on March 10, 2009 in connection with a Schedule 13G for Black Rock MuniHoldings Fund II, Inc., which power of attorney is incorporated herein by reference.

Index to Exhibits

Exhibit	Exhibit
A.	Joint
Filing Agreement

| EXHIBIT
A |
| --- |
| JOINT
FILING AGREEMENT |
| In
accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
the persons or entities named below agree to the joint filing on behalf of
each of them of this Schedule 13G/A with respect to the Securities of the
Issuer and further agree that this joint filing agreement be included as
an exhibit to this Schedule 13G/A. In evidence thereof, the
undersigned hereby execute this Agreement as of June 4, 2010. |

| ROYAL
BANK OF CANADA |
| --- |
| /s/
Tom Smee |
| Signature |
| Tom
Smee/Senior Vice President |
| Name/Title |
| /s/
Bruce Macdonald |
| Signature |
| Bruce
Macdonald/Executive Vice President |
| Name/Title |
| RBC
CAPITAL MARKETS CORPORATION |
| */s/
John Penn |
| Signature |
| John
Penn/Authorized Signatory |
| Name/Title |

*This Schedule 13G/A was executed by John Penn pursuant to the power of attorney filed with the Securities and Exchange Commission on March 10, 2009 in connection with a Schedule 13G for BlackRock MuniHoldings Fund II, Inc., which power of attorney is incorporated herein by reference.