BlackRock MuniYield New Jersey Quality Fund, Inc. (the Fund), formerly BlackRock MuniHoldings New Jersey Quality Fund, Inc., is a non-diversified, closed-end management investment company. The Fund seeks to provide current income exempt from federal income tax and New Jersey personal income taxes. It invests primarily in a portfolio of long-term municipal obligations, the interest on which is exempt from federal income tax and New Jersey personal income taxes. The Fund invests in leveraged residual certificates (TOB Residuals) issued by tender option bond trusts (TOBs). The Fund may invest in certain securities whose potential income return is inversely related to changes in a floating interest rate (inverse floaters). The Funds may invest in swap agreements.