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UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-06570

Name of Fund: BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock
MuniYield New Jersey Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing
address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2009

Date of reporting period: 04/30/2009

Item 1 – Schedule of Investments

BlackRock MuniYield New Jersey Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
New Jersey - 146.0%         
Corporate - 1.6%  Gloucester County, New Jersey, Improvement Authority, Solid Waste     
  Resource Recovery, Revenue Refunding Bonds (Waste Management     
  Inc. Project), AMT, Series B, 7%, 12/01/29    $ 1,180  $ 1,188,024 
Gloucester County, New Jersey, Improvement Authority, Solid Waste
  Resource Recovery, Revenue Refunding Bonds (Waste Management     
  Inc. Project), Series A, 6.85%, 12/01/29    2,000  2,010,640 
        3,198,664 
County/City/Special  Burlington County, New Jersey, Bridge Commission Revenue Bonds     
District/School  (Governmental Leasing Program), 5.25%, 8/15/12 (a)  1,000  1,127,200 
District - 26.1%  Essex County, New Jersey, Improvement Authority, Project     
  Consolidation Revenue Refunding Bonds, 5.50%, 10/01/29 (b)  5,085  5,288,349 
  Essex County, New Jersey, Improvement Authority Revenue Bonds,     
  Series A, 5%, 10/01/13 (a)(c)    2,620  3,001,000 
  Hudson County, New Jersey, COP, Refunding, 6.25%, 12/01/16 (b)  1,500  1,645,245 
Hudson County, New Jersey, Improvement Authority, Facility Lease
  Revenue Refunding Bonds (Hudson County Lease Project), 5.375%,     
  10/01/24 (b)(c)    4,500  4,531,815 
  Hudson County, New Jersey, Improvement Authority, Parking     
  Revenue Bonds (Harrison Parking Facility Project), Series C,     
  5.375%, 1/01/44 (d)    4,800  4,934,112 
  Jackson Township, New Jersey, School District, GO, 5%,     
  4/15/12 (a)(c)    6,840  7,574,206 
  Middlesex County, New Jersey, Improvement Authority, County-     
  Guaranteed Revenue Bonds (Golf Course Projects), 5.25%, 6/01/22  1,455  1,568,432 
  Middlesex County, New Jersey, Improvement Authority, Senior     
  Revenue Bonds (Heldrich Center Hotel/Conference Project),     
  Series A, 5%, 1/01/20    655  403,473 
  Monmouth County, New Jersey, Improvement Authority,     
  Governmental Loan Revenue Refunding Bonds, 5%, 12/01/11 (a)(e)  2,085  2,290,060 
  Monmouth County, New Jersey, Improvement Authority,     
  Governmental Loan Revenue Refunding Bonds, 5%, 12/01/15 (e)  1,215  1,251,462 
  Monmouth County, New Jersey, Improvement Authority,     
  Governmental Loan Revenue Refunding Bonds, 5%, 12/01/16 (e)  1,280  1,312,691 
  Morristown, New Jersey, Parking Authority Revenue Bonds, 4.50%,     
  8/01/37 (b)    585  541,956 
Newark, New Jersey, Housing Authority, Port Authority-Port Newark
  Marine Terminal, Additional Rent-Backed Revenue Refunding Bonds     
  (City of Newark Redevelopment Projects), 4.375%, 1/01/37 (b)  3,225  2,792,624 
Portfolio Abbreviations         

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the
securities have been abbreviated according to the list below.

AMT  Alternative Minimum Tax (subject to)  EDR  Economic Development Revenue Bonds 
CABS  Capital Appreciation Bonds  GO  General Obligation Bonds 
COP  Certificates of Participation  M/F  Multi-Family 
EDA  Economic Development Authority  S/F  Single-Family 

1

BlackRock MuniYield New Jersey Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 5.30%,
  7/01/33 (f)(g)    $ 1,575  $ 1,296,288 
  Perth Amboy, New Jersey, GO (Convertible CABS), Refunding,     
  5.294%, 7/01/34 (f)(g)    1,925  1,577,961 
  Salem County, New Jersey, Improvement Authority Revenue Bonds     
  (Finlaw State Office Building Project), 5.375%, 8/15/28 (f)  500  522,570 
  Salem County, New Jersey, Improvement Authority Revenue Bonds     
  (Finlaw State Office Building Project), 5.25%, 8/15/38 (f)  500  513,140 
  South Jersey Port Corp. of New Jersey, Revenue Refunding Bonds,     
  4.75%, 1/01/18    4,280  4,444,609 
  South Jersey Port Corp. of New Jersey, Revenue Refunding Bonds,     
  4.85%, 1/01/19    2,485  2,571,727 
  South Jersey Port Corp. of New Jersey, Revenue Refunding Bonds,     
  5%, 1/01/20    2,000  2,069,600 
        51,258,520 
Education - 18.2%  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Georgian Court College Project), Series C, 6.50%, 7/01/13 (a)  2,000  2,393,700 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Montclair State University), Series J, 5.25%, 7/01/38  1,140  1,153,976 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Rider University), Series C, 5%, 7/01/37 (h)    1,750  1,342,775 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Rowan University), Series C, 5%, 7/01/14 (a)(b)    1,955  2,239,550 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Rowan University), Series C, 5.125%, 7/01/14 (a)(b)  2,165  2,493,344 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (College of New Jersey), Series D, 5%, 7/01/35 (f)  6,115  6,254,544 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Gregorian Court University), Series D, 5.25%,     
  7/01/37    1,000  802,400 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Montclair State University), Series L, 5%,       
  7/01/14 (a)(b)    5,305  6,077,143 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Ramapo College), Series I, 4.25%, 7/01/31 (e)  750  656,123 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Ramapo College), Series I, 4.25%, 7/01/36 (e)  810  688,322 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Rider University), 5%, 7/01/17 (h)    1,000  952,200 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Rider University), Series A, 5.50%, 7/01/23 (h)  1,255  1,222,395 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Rider University), Series A, 5.25%, 7/01/34 (h)  1,450  1,206,502 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (Rowan University), Series B, 5%, 7/01/24 (d)  1,800  1,921,266 

2

BlackRock MuniYield New Jersey Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (University of Medicine and Dentistry), Series B,     
  7.125%, 12/01/23    $ 1,300  $ 1,350,557 
New Jersey State Educational Facilities Authority, Revenue Refunding
  Bonds (University of Medicine and Dentistry), Series B,     
  7.50%, 12/01/32    1,625  1,655,891 
  New Jersey State Higher Education Assistance Authority, Student     
  Loan Revenue Bonds, AMT, Series A, 5.30%, 6/01/17 (e)  3,170  3,187,086 
        35,597,774 
Health - 24.0%  New Jersey EDA, EDR (Masonic Charity Foundation of New Jersey),     
  5.25%, 6/01/24    1,425  1,413,215 
  New Jersey EDA, EDR (Masonic Charity Foundation of New Jersey),     
  5.25%, 6/01/32    685  633,269 
  New Jersey EDA, First Mortgage Revenue Refunding Bonds (The     
  Winchester Gardens at Ward Homestead Project), Series A,     
  5.75%, 11/01/24    2,500  2,098,925 
  New Jersey EDA, First Mortgage Revenue Refunding Bonds (The     
  Winchester Gardens at Ward Homestead Project), Series A,     
  5.80%, 11/01/31    2,000  1,564,820 
  New Jersey EDA, Revenue Bonds (Saint Barnabas Project),     
  Series A, 6.249%, 7/01/24 (b)(i)    3,850  1,403,325 
New Jersey Health Care Facilities Financing Authority, Health System
  Revenue Bonds (Catholic Health East), Series A,       
  5.375%, 11/15/12 (a)    1,100  1,251,580 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Children's Specialized Hospital), Series A, 5.50%, 7/01/36  1,540  1,187,617 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Hospital Asset Transformation Program), Series A,     
  5.25%, 10/01/38    1,000  986,680 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Hunterdon Medical Center), Series A, 5.125%, 7/01/35  1,950  1,587,475 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Meridian Health), Series I, 5%, 7/01/38 (d)    1,000  980,370 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Pascack Valley Hospital Association), 6.625%, 7/01/36 (j)(k)  1,845  47,785 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Robert Wood University), 5.70%, 7/01/20 (e)    4,000  4,026,160 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Somerset Medical Center), 5.50%, 7/01/33    1,875  972,619 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (South Jersey Hospital System), 6%, 7/01/12 (a)    6,640  7,592,442 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Southern Ocean County Hospital), 5.125%, 7/01/31 (h)  2,000  1,563,780 
New Jersey Health Care Facilities Financing Authority Revenue Bonds
  (Virtua Health), 5.50%, 7/01/38 (d)    2,500  2,453,500 

3

BlackRock MuniYield New Jersey Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 5.75%, 7/01/12 (a)  $ 1,060  $ 1,188,398 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 6.25%, 7/01/12 (a)  500  568,235 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 6.25%, 7/01/17  520  544,372 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 5.75%, 7/01/25  520  521,446 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Capital Health System Inc.), Series A, 5.75%,     
  7/01/13    1,650  1,889,877 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Meridian Health System Obligation Group),     
  5.25%, 7/01/19 (f)    1,500  1,506,045 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Meridian Health System Obligation Group),     
  5.375%, 7/01/24 (f)    2,250  2,250,697 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Meridian Health System Obligation Group),     
  5.25%, 7/01/29 (f)    2,195  2,072,277 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Saint Barnabas Health Care System), Series A,     
  5%, 7/01/29    4,155  3,066,016 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Saint Barnabas Health Care System), Series B,     
  5.902%, 7/01/30 (i)    2,000  282,640 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Saint Barnabas Health Care System), Series B,     
  5.697%, 7/01/36 (i)    500  39,340 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Saint Barnabas Health Care System), Series B,     
  5.176%, 7/01/37 (i)    13,250  949,362 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (South Jersey Hospital System), 5%, 7/01/36  1,385  1,142,763 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (South Jersey Hospital System), 5%, 7/01/46  1,650  1,309,176 
        47,094,206 
Housing - 13.3%  New Jersey State Housing and Mortgage Finance Agency, Capital     
  Fund Program Revenue Bonds, Series A, 4.70%, 11/01/25 (f)  6,950  6,749,493 
New Jersey State Housing and Mortgage Finance Agency, Home Buyer
  Revenue Bonds, AMT, Series CC, 5.80%, 10/01/20 (b)  4,515  4,649,050 
New Jersey State Housing and Mortgage Finance Agency, Home Buyer
  Revenue Bonds, AMT, Series U, 5.60%, 10/01/12 (b)  2,515  2,530,643 
  New Jersey State Housing and Mortgage Finance Agency, M/F     
  Revenue Bonds, AMT, Series A, 4.90%, 11/01/35 (c)  1,500  1,309,245 
 
 
4

BlackRock MuniYield New Jersey Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  New Jersey State Housing and Mortgage Finance Agency Revenue     
  Bonds, Series AA, 6.50%, 10/01/38    $ 2,160  $ 2,295,799 
New Jersey State Housing and Mortgage Finance Agency, S/F Housing
  Revenue Bonds, AMT, Series U, 4.95%, 10/01/32    700  630,889 
New Jersey State Housing and Mortgage Finance Agency, S/F Housing
  Revenue Bonds, AMT, Series X, 4.85%, 4/01/16    3,605  3,694,584 
New Jersey State Housing and Mortgage Finance Agency, S/F Housing
  Revenue Refunding Bonds, AMT, Series T, 4.65%,     
  10/01/32    4,945  4,216,255 
        26,075,958 
State - 35.6%  Garden State Preservation Trust of New Jersey, Capital Appreciation     
  Revenue Bonds, Series B, 5.116%, 11/01/23 (f)(i)  6,860  3,504,637 
Garden State Preservation Trust of New Jersey, Capital Appreciation
  Revenue Bonds, Series B, 5.247%, 11/01/28 (f)(i)  4,540  1,668,178 
  Garden State Preservation Trust of New Jersey, Open Space and     
  Farmland Preservation Revenue Bonds, Series A, 5.80%,     
  11/01/22 (f)    4,300  4,861,064 
  New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/29 (h)  1,895  1,399,401 
  New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50%, 6/15/31 (h)  370  258,956 
  New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/34 (h)  755  537,243 
  New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds,     
  Series A, 5.25%, 7/01/33 (b)    14,000  13,960,940 
  New Jersey EDA, Revenue Bonds (Department of Human Services),     
  5%, 7/01/12    220  238,894 
  New Jersey EDA, School Facilities Construction Revenue Bonds,     
  Series L, 5%, 3/01/30 (f)    5,800  5,869,832 
  New Jersey EDA, School Facilities Construction Revenue Bonds,     
  Series O, 5.25%, 3/01/23    2,400  2,477,664 
  New Jersey EDA, School Facilities Construction Revenue Bonds,     
  Series P, 5%, 9/01/15    3,000  3,298,320 
  New Jersey EDA, School Facilities Construction Revenue Bonds,     
  Series P, 5.25%, 9/01/16    3,115  3,429,677 
  New Jersey EDA, School Facilities Construction Revenue Bonds,     
  Series Z, 5.50%, 12/15/34 (d)    3,665  3,901,686 
  New Jersey EDA, School Facilities Construction Revenue Bonds,     
  Series Z, 6%, 12/15/34 (d)    3,600  3,970,800 
  New Jersey State, COP (Equipment Lease Purchase Agreement),     
  Series A, 5.25%, 6/15/28    1,100  1,102,497 
  New Jersey State Transit Corporation, COP (Federal Transit     
  Administration Grants), Series B, 5.75%, 9/15/14  3,620  3,848,748 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, CABS, Series C, 5.05%,     
  12/15/35 (e)(i)    4,140  793,886 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series A, 5.50%, 12/15/21  3,525  3,848,701 

5

BlackRock MuniYield New Jersey Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series A, 5.625%,     
  12/15/28 (d)    $ 1,250  $ 1,319,788 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series A, 6%, 12/15/38  2,900  3,135,335 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Refunding Bonds, Series B, 5.50%,     
  12/15/21    5,865  6,403,583 
        69,829,830 
Tobacco - 4.9%  Tobacco Settlement Financing Corp. of New Jersey, Asset-Backed     
  Revenue Bonds, 7%, 6/01/13 (a)    3,010  3,644,659 
  Tobacco Settlement Financing Corp. of New Jersey, Asset-Backed     
  Revenue Bonds, 5.75%, 6/01/32    1,820  1,965,363 
  Tobacco Settlement Financing Corp. of New Jersey, Asset-Backed     
  Revenue Refunding Bonds, Series 1A, 4.50%, 6/01/23  3,000  2,520,330 
  Tobacco Settlement Financing Corp. of New Jersey, Asset-Backed     
  Revenue Refunding Bonds, Series 1A, 5%, 6/01/41  2,500  1,318,125 
  Tobacco Settlement Financing Corp. of New Jersey, Asset-Backed     
  Revenue Refunding Bonds, Series 1B, 5.651%, 6/01/41 (i)  5,100  182,121 
        9,630,598 
Transportation - 14.0%  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds, 6%, 1/01/19 (f)    7,860  7,961,237 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series A, 5.50%,     
  12/15/38 (d)    1,000  1,054,180 
New Jersey State Turnpike Authority, Turnpike Revenue Bonds, Series
  B, 5.985%, 1/01/35 (e)(i)    4,870  3,478,592 
  New Jersey State Turnpike Authority, Turnpike Revenue Bonds,     
  Series E, 5.25%, 1/01/40    2,600  2,613,520 
  Port Authority of New York and New Jersey, Consolidated Revenue     
  Bonds, 93rd Series, 6.125%, 6/01/94    5,000  5,556,900 
  Port Authority of New York and New Jersey, Consolidated Revenue     
  Refunding Bonds, AMT, 152nd Series, 5.75%, 11/01/30  3,300  3,323,727 
  Port Authority of New York and New Jersey, Consolidated Revenue     
  Refunding Bonds, AMT, 152nd Series, 5.25%, 11/01/35  3,765  3,520,162 
        27,508,318 
Utilities - 8.3%  New Jersey EDA, Water Facilities Revenue Bonds (New Jersey-     
  American Water Company, Inc. Project), AMT, Series A, 5.25%,     
  11/01/32 (e)    1,000  807,450 
  New Jersey EDA, Water Facilities Revenue Bonds (New Jersey-     
  American Water Company, Inc. Project), AMT, Series A, 6.875%,     
  11/01/34 (c)    6,670  6,618,441 
New Jersey EDA, Water Facilities Revenue Refunding Bonds (United
  Water of New Jersey, Inc.), Series B, 4.50%, 11/01/25 (e)  4,500  4,544,685 

6

BlackRock MuniYield New Jersey Fund, Inc.         
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par     
  Municipal Bonds    (000)       Value 
  Rahway Valley Sewerage Authority, New Jersey, Sewer Revenue       
  Bonds, CABS, Series A, 4.87%, 9/01/31 (b)(i)    $ 6,000     $  1,630,140 
Union County, New Jersey, Utilities Authority, Senior Lease Revenue
Refunding Bonds (Ogden Martin System of Union, Inc.), AMT, Series A,
  5.375%, 6/01/17 (e)    1,585    1,586,474 
Union County, New Jersey, Utilities Authority, Senior Lease Revenue
Refunding Bonds (Ogden Martin System of Union, Inc.), AMT, Series A,
  5.375%, 6/01/18 (e)    1,175    1,168,608 
          16,355,798 
  Total Municipal Bonds in New Jersey        286,549,666 
Puerto Rico - 3.6%           
Education - 1.1%  Puerto Rico Industrial, Tourist, Educational, Medical and       
  Environmental Control Facilities Revenue Bonds (University Plaza       
  Project), Series A, 5%, 7/01/33 (b)    2,500    2,165,800 
Transportation - 1.6%  Puerto Rico Commonwealth Highway and Transportation Authority,       
  Highway Revenue Refunding Bonds, Series CC, 5.50%, 7/01/31 (d)  3,000    3,121,410 
Utilities - 0.9%  Puerto Rico Industrial, Tourist, Educational, Medical and       
  Environmental Control Facilities Revenue Bonds (Cogeneration       
  Facility-AES Puerto Rico Project), AMT, 6.625%, 6/01/26  1,900    1,782,789 
  Total Municipal Bonds in Puerto Rico        7,069,999 
U.S. Virgin Islands - 2.1%           
Corporate - 2.1%  Virgin Islands Government Refinery Facilities, Revenue Refunding       
  Bonds (Hovensa Coker Project), AMT, 6.50%, 7/01/21  3,500    2,745,015 
  Virgin Islands Public Finance Authority, Refinery Facilities Revenue       
  Bonds (Hovensa Refinery), AMT, 5.875%, 7/01/22  1,900    1,347,993 
  Total Municipal Bonds in U.S. Virgin Islands        4,093,008 
  Total Municipal Bonds - 151.7%        297,712,673 
New Jersey - 3.2%  Municipal Bonds Transferred to Tender Option Bond Trusts (l)       
State - 3.2%  Garden State Preservation Trust of New Jersey, Open Space and       
  Farmland Preservation Revenue Bonds, Series A, 5.75%,       
  11/01/28 (f)    5,460    6,347,687 
  Total Municipal Bonds Transferred to Tender Option Bond Trusts - 3.2%    6,347,687 
  Total Long-Term Investments         
  (Cost - $309,803,793) - 154.9%        304,060,360 
  Short-Term Securities    Shares     
Money Market Fund - 1.1%  CMA New Jersey Municipal Money Fund, 0.33% (m)(n)  2,180,363    2,180,363 
  Total Short-Term Securities         
  (Cost - $2,180,363) - 1.1%        2,180,363 
  Total Investments (Cost - $311,984,156*) - 156.0%      306,240,723 
  Liabilities in Excess of Other Assets - (0.5)%        (1,106,889) 
  Liability for Trust Certificates, Including Interest Expense and       
  Fees Payable - (2.1)%        (4,112,506) 
  Preferred Shares, at Redemption Value - (53.4)%    (104,738,581) 
  Net Assets Applicable to Common Shares - 100.0%    $ 196,282,747 

7

BlackRock MuniYield New Jersey Fund, Inc.

Schedule of Investments April 30, 2009 (Unaudited)

* The cost and unrealized appreciation (depreciation) of investments as of April 30, 2009, as

computed for federal income tax purposes, were as follows:   
Aggregate cost  $  307,182,981 
Gross unrealized appreciation  $  12,409,234 
Gross unrealized depreciation    (17,446,492) 
Net unrealized depreciation  $  (5,037,258) 

(a) US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in
full at the date indicated, typically at a premium to par.

(b) NPFGC Insured.

(c) FGIC Insured.

(d) Assured Guaranty Insured.

(e) AMBAC Insured.

(f) FSA Insured.

(g) Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the

following periods. Rate shown reflects the effective yield as of report date.

(h) Radian Insured.

(i) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

(j) Issuer filed for bankruptcy or is in default of interest payments.

(k) Non-income producing security.

(l) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired

residual interest certificates. These securities serve as collateral in a financing transaction.

(m) Represents the current yield as of report date.

(n) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, were as follows:

  Net     
Affiliate  Activity    Income 
CMA New Jersey Municipal Money Fund  (2,258,408)  $             44,328 

Ÿ Effective August 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting
Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a
framework for measuring fair values and requires additional disclosures about the use of fair value measurements.
Various inputs are used in determining the fair value of investments, which are as follows:

Ÿ Level 1 - price quotations in active markets/exchanges for identical securities
Ÿ Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in
markets that are active, quoted prices for identical or similar assets in markets that are not active, inputs other
than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities,
prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

Ÿ Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent
observable inputs are not available (including the Fund's own assumptions used in determining the fair value of
investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. For information about the Fund's policy regarding valuation of investments and other
significant accounting policies, please refer to the Fund's most recent financial statements as contained in its semi-
annual report.

8

BlackRock MuniYield New Jersey Fund, Inc.

Schedule of Investments April 30, 2009 (Unaudited)

The following table summarizes the inputs used as of April 30, 2009 in determining the fair valuation of
the Fund's investments:

Valuation    Investments in 
Inputs    Securities 
    Assets 
Level 1  $  2,180,363 
Level 2    304,060,360 
Level 3    - 
Total  $  306,240,723 

9

Item 2 – Controls and Procedures

2(a) – The registrant’s principal executive and principal financial officers or persons performing
similar functions have concluded that the registrant’s disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
“1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) – There were no changes in the registrant’s internal control over financial reporting (as
defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal
quarter that have materially affected, or are reasonably likely to materially affect, the
registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

BlackRock MuniYield New Jersey Fund, Inc.

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock MuniYield New Jersey Fund, Inc.

Date: June 19, 2009

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the dates indicated.

By: /s/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield New Jersey Fund, Inc.

Date: June 19, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield New Jersey Fund, Inc.

Date: June 19, 2009