NUVEEN NEW YORK AMT-FREE QUALITY MUNICIPAL INCOME FUND

Major Shareholding Notification • Apr 19, 2010

SC 13D 1 nrkmtp13d.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Nuveen Insured New York Tax-Free Advantage Municipal Fund (NRK) (Name of Issuer) MuniFund Term Preferred Shares (Title of Class of Securities) 670656305 (CUSIP Number) George W. Karpus, President Karpus Management, Inc., d/b/a Karpus Investment Management 183 Sully's Trail Pittsford, New York 14534 (585) 586-4680 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 9, 2010 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. 

CUSIP No.: 670656305 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Karpus Management, Inc., d/b/a Karpus Investment Management I.D. #16-1290558 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a)  (b) X 3. SEC Use Only 4. Source of Funds (See Instructions) AF 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) N/A 6. Citizenship or Place of Organization New York Number of Shares Beneficially Owned by Each reporting Person With:

11. Aggregate Amount Beneficially Owned by Each Reporting Person 750,000 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) N/A 13. Percent of Class Represented by Amount in Row (11) 27.1% 14. Type of Reporting Person (See Instructions) IA

Item 1. Security and Issuer.

Nuveen Advisory Corp 333 West Wacker Drive Chicago, IL 60606 Item 2. Identity and Background. (a) Karpus Management, Inc., d/b/a Karpus Investment Management (“KIM”), George W. Karpus, President, Director and controlling stockholder, Jo Ann Van Degriff, Partner Emeritus. (b) The address of KIM’s principal place of business and principal office is: 183 Sully’s Trail, Pittsford, New York 14534. (c) Principal business and occupation - Investment management for individuals, pension plans, profit sharing plans, corporations, endowments, trusts and others. (d) None of the Principals, George W. Karpus, Jo Ann Van Degriff (the “Principals”) or KIM has been convicted in the past 5 years of any criminal proceeding (excluding traffic violations). (e) During the last 5 years none of the Principals or KIM has been a party to a civil proceeding as a result of which any of them is subject to a judgment, decree, or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. (f) Each of the Principals is a United States citizen. KIM is a New York corporation. Item 3. Source and Amount of Funds or Other Considerations. KIM, an independent investment advisor, has accumulated 750,000 shares of Nuveen Insured New York Tax-Free Advantage Municipal MuniFund Term Preferred Shares on behalf of accounts that are managed by KIM (the “Accounts”) under limited powers of attorney, which represents 27.1% of the outstanding shares. All funds that have been utilized in making such purchases are from such Accounts. Item 4. Purpose of Transaction. KIM has purchased Shares for the Accounts for investment purposes. Being an independent registered investment advisor, the profile of the Nuveen Insured New York Tax-Free Advantage Municipal MuniFund Term Preferred Shares fits the investment guidelines for various Accounts. Shares have been acquired since April 9, 2010. Item 5. Interest in Securities of the Issuer. (a) As of the date of this Report, KIM represents beneficial ownership of 750,000 shares or 27.1% of the outstanding shares. George W. Karpus presently owns 35,600 shares. Mr. Karpus purchased shares on April 9, 2010 at $10.00 (35,600 shares). JoAnn Van Degriff presntly owns 3,800 shares. Mrs. Van Degriff purchased shares on April 9, 2010 at $10.00 (3,800 shares). None of the other principals of KIM presently own shares of Nuveen Insured New York Tax-Free Advantage Municipal MuniFund Term Preferred Shares. (b) KIM has the sole power to dispose of and to vote all of such Shares under limited powers of attorney. (c) Open market purchases for the last 60 days for the Accounts. There have been no dispositions and no acquisitions, other than by such open market purchases: