SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 11)
Under the Securities and Exchange Act of 1934
BlackRock New York Insured Municipal 2008 Term Trust, Inc.
(BLN)
(Name of Issuer)
Common Stock
(Title of Class of Securities)
09247L107
(CUSIP Number)
George W. Karpus, President
Karpus Management, Inc. d/b/a
Karpus Investment Management
183 Sullys Trail
Pittsford, New York 14534
(585) 586-4680
(Name, Address, and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 07, 2004
(Date of Event which Requires Filing of this Statement)
If the person has previously filed a statement on Schedule 13G to report the
acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1 (b) (3) or (4), check the following box. [ ]
(Page 1 of 5 pages)
There are no exhibits.
ITEM 1 Security and Issuer
Common Stock
Blackrock New York Insured Municipal 2008 Term Trust, Inc.
Blackrock Financial Management L. P.
345 Park Ave.
31 St. floor
New York, New York 10154
ITEM 2 Identity and Background
a) Karpus Management, Inc. d/b/a Karpus Investment Management
(?KIM?)
George W. Karpus, President, Director and Controlling Stockholder
JoAnn VanDegriff, Vice President and Director
Sophie Karpus, Director
b) 183 Sullys Trail
Pittsford, New York 14534
c) Principal business and occupation - Investment Management for
individuals, pension and profit sharing plans, corporations,
endowments, trust and others, specializing in conservative asset
management (i.e. fixed income investments).
d) None of George W. Karpus, JoAnn Van Degriff, or Sophie Karpus
(?the Principals?) or KIM has been convicted in the past five years of
any criminal proceeding (excluding traffic violations).
e) During the last five 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 shares of BLN
on behalf of accounts that are managed by KIM (?the Accounts?) under
limited powers of attorney. All funds that have been utilized in making
such purchases are from such Accounts.
ITEM 4 Purpose of Transaction
KIM has purchased Shares for investment purposes. Being primarily a
fixed income manager, with a specialty focus in the closed end fund
sector, the profile of BLN fit the investment guidelines for various
Accounts. Shares have been acquired since January 11, 1999.
ITEM 5 Interest in Securities of the Issuer
a) As of the date of this Report, KIM owns 1,961,875 shares, which
represents 17.42 % of the outstanding Shares. George Karpus presently
owns 63,765 shares purchased on January 17 & 18, 2001 at $15.06 (6,700
shares), January 29 at $15.25 (5000 shares), January 30 at $15.11 (3,000
shares), February 14 at $15.25 (3,300 shares), April 17, 2002 at $15.42
(1,450 shares), April 18 at $15.40 (550 shares), May 13 at $15.60 (1,100
shares), May 29 at $15.68 (500 shares), June 11 at $15.68 (1,900
shares), July 16 at $15.87 (4,750 shares), August 13 at $15.95 (10,000
shares), August 14 at $16.09 (5,000 shares), August 15 at $16.05
(5,000 shares), October 11 at $16.17 (5,000 shares), May 6, 2003 at
$16.38 (1,100 shares), June 13 at $16.95 (800 shares), June 23 at
$16.90 (250 shares), July 8 & 9 at $16.70 (750 shares), July 16 at
$16.42 (1,150 shares), August 13 at $16.20 (5,000 shares), and September
26 at $16.65 (2900 shares). He sold on January 3, 2003 at $16.15 (985
shares), and January 6 at $16.16 (450 shares). JoAnn Van Degriff owns
9,075 shares purchased on July 10 & 11, 2001 at $15.29 (2,000 shares),
July 16, 2002 at $15.87 (2,350 shares), and August 2 at $15.95 (2,900
shares). She sold on January 3, 2003 at $16.15 (75 shares), January 6 at
$16.17 (50 shares), January 21 at $16.14 (50 shares), September 12 at
$16.34 (1800 shares), and September 17 at $16.45 (200 shares). Karpus
Management, Inc. owns 8,700 shares purchased on January 26, 2004 at a
price of $17.14 (3700 shares), February 2 at $17.00 (1000 shares), and
February 6 at $17.09 (4000 shares). None of the other Principals presently
owns shares.
b) KIM has the sole power to dispose of and to vote all of such Shares
under limited powers of attorney.
c) The first open market purchase occurred on January 11, 1999 as
previously reported. 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, during such period.
DATE
SHARES
PRICE PER
DATE
SHARES
PRICE PER
SHARE
SHARE
3/1/2004
300
17.19
4/2/2004
5000
17.10
3/2/2004
4700
17.19
4/7/2004
7820
16.58
3/3/2004
5300
17.16
4/8/2004
1300
16.67
3/4/2004
100
17.18
4/12/2004
4700
16.60
3/5/2004
900
17.21
4/13/2004
3400
16.56
3/8/2004
2800
17.30
4/14/2004
12650
16.38
3/9/2004
3400
17.34
4/16/2004
200
16.26
3/10/2004
100
17.33
4/20/2004
500
16.15
3/11/2004
3300
17.27
4/21/2004
100
16.15
3/12/2004
17800
17.27
4/22/2004
24100
16.14
3/16/2004
6000
17.26
4/23/2004
8400
15.95
3/17/2004
53900
17.22
4/26/2004
6500
16.20
3/17/2004
-4000
17.20
4/26/2004
-1185
16.21
3/18/2004
1300
17.17
4/29/2004
7200
15.91
3/22/2004
1000
17.18
4/30/2004
3900
15.96
3/23/2004
3400
17.26
4/30/2004
-2800
15.99
3/24/2004
4400
17.20
3/25/2004
18550
17.18
3/26/2004
4980
17.14
3/29/2004
4300
17.12
3/30/2004
4000
17.12
3/31/2004
-1000
17.11
The Accounts have the right to receive all dividends from, any proceeds
from the sale of the Shares. KIM reserves the right to further accumulate
or sell shares. None of the Accounts has an interest in shares constituting
more than 5% of the Shares outstanding.
ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect
to Securities of the Issuer.
Except as described above, there are no contracts, arrangements,
understandings or relationships of any kind among the Principals and KIM
and between any of them and any other person with respect to any of BLN
securities.
ITEM 7 Materials to be Filed as Exhibits
Not applicable.
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.
Karpus Management, Inc.
May 07, 2004 By:________________________
Date Signature
Dana R. Consler, Vice President
Name/Title