UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-06728

 

Name of Fund: BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield Quality Fund II, Inc., 55 East 52nd Street, New York, NY 10055

 

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

 

Date of fiscal year end: 04/30/2013

 

Date of reporting period: 07/31/2012

 

Item 1 – Schedule of Investments

 

 

 

 

Schedule of Investments July 31, 2012 (Unaudited)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 0.8%

 

 

 

 

 

 

 

Birmingham Special Care Facilities
Financing Authority, RB, Children’s
Hospital (AGC), 6.00%, 6/01/39

 

$

650

 

$

758,973

 

County of Jefferson Alabama, RB,
Series A, 4.75%, 1/01/25

 

 

2,000

 

 

1,908,640

 

 

 

 

 

 

 

2,667,613

 

Alaska — 0.5%

 

 

 

 

 

 

 

Alaska Housing Finance Corp, RB,
Series A, 4.13%, 12/01/37

 

 

580

 

 

588,346

 

Alaska Industrial Development & Export
Authority, RB, Providence Health
Services, Series A, 5.50%, 10/01/41

 

 

850

 

 

981,563

 

 

 

 

 

 

 

1,569,909

 

Arizona — 1.1%

 

 

 

 

 

 

 

Greater Arizona Development Authority,
RB, Series B (NPFGC), 5.00%,
8/01/35

 

 

1,100

 

 

1,188,209

 

State of Arizona, COP, Department of
Administration, Series A (AGM):

 

 

 

 

 

 

 

5.00%, 10/01/27

 

 

1,300

 

 

1,481,324

 

5.00%, 10/01/29

 

 

925

 

 

1,028,961

 

 

 

 

 

 

 

3,698,494

 

California — 18.4%

 

 

 

 

 

 

 

Alameda Corridor Transportation
Authority, Refunding RB, CAB,
Subordinate Lien, Series A (AMBAC),
0.00%, 10/01/25 (a)

 

 

7,150

 

 

7,679,600

 

Cabrillo Community College District, GO,
CAB, Election of 2004, Series B
(NPFGC) (b):

 

 

 

 

 

 

 

5.39%, 8/01/37

 

 

2,100

 

 

555,051

 

5.42%, 8/01/38

 

 

4,800

 

 

1,194,720

 

California Health Facilities Financing
Authority, RB, Sutter Health, Series B,
5.88%, 8/15/31

 

 

1,000

 

 

1,207,960

 

California Health Facilities Financing
Authority, Refunding RB, St. Joseph
Health System, Series A, 5.75%,
7/01/39

 

 

500

 

 

577,530

 

California State University, RB,
Systemwide, Series A:

 

 

 

 

 

 

 

5.25%, 11/01/38

 

 

3,000

 

 

3,386,070

 

5.50%, 11/01/39

 

 

1,000

 

 

1,145,770

 

California Statewide Communities
Development Authority, RB, 5.00%,
4/01/42

 

 

1,290

 

 

1,412,008

 

City of San Jose California, Refunding
ARB, Series A-1, AMT, 5.75%,
3/01/34

 

 

700

 

 

804,685

 

Coast Community College District
California, GO, CAB, Election of 2002,
Series C (AGM), 0.00%, 8/01/31 (a)

 

 

1,800

 

 

1,775,970

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

East Side Union High School District,
GO, CAB (AGM), 5.13%, 8/01/29 (b)

 

$

15,000

 

$

6,343,500

 

El Monte Union High School District
California, GO, Election of 2002,
Series C (AGM), 5.25%, 6/01/28

 

 

4,000

 

 

4,548,800

 

Fairfield-Suisun Unified School District
California, GO, Election of 2002
(NPFGC), 5.50%, 8/01/28

 

 

2,770

 

 

2,985,977

 

Los Angeles Community College District
California, GO, Election of 2001,
Series A (AGM), 5.00%, 8/01/32

 

 

2,200

 

 

2,480,148

 

Metropolitan Water District of Southern
California, RB, Series B-1 (NPFGC) (c):

 

 

 

 

 

 

 

5.00%, 10/01/13

 

 

2,255

 

 

2,380,784

 

5.00%, 10/01/13

 

 

1,340

 

 

1,414,745

 

Monterey Peninsula Community College
District, GO, CAB, Series C (AGM),
4.90%, 8/01/28 (b)

 

 

11,975

 

 

5,517,242

 

Orange County Sanitation District, COP
(NPFGC), 5.00%, 8/01/13 (c)

 

 

2,300

 

 

2,408,974

 

San Diego County Water Authority, COP,
Refunding, Series 2008-A (AGM),
5.00%, 5/01/38

 

 

2,015

 

 

2,211,785

 

San Diego Unified School District
California, GO, CAB, Election of 2008,
Series C, 5.02%, 7/01/38 (b)

 

 

1,400

 

 

387,226

 

San Diego Unified School District
California, GO, Refunding, CAB, Series
R-1, 4.64%, 7/01/31 (b)

 

 

1,110

 

 

466,367

 

San Joaquin County Transportation
Authority, Refunding RB, Limited Tax,
Measure K, Series A, 6.00%, 3/01/36

 

 

575

 

 

704,179

 

San Marcos Unified School District, GO,
Election of 2010, Series A:

 

 

 

 

 

 

 

5.00%, 8/01/34

 

 

600

 

 

678,864

 

5.00%, 8/01/38

 

 

490

 

 

547,933

 

State of California, GO, Various Purpose,
5.00%, 4/01/42

 

 

2,500

 

 

2,736,450

 

State of California, GO, Refunding:

 

 

 

 

 

 

 

5.13%, 6/01/27

 

 

20

 

 

20,066

 

5.00%, 2/01/38

 

 

1,500

 

 

1,644,930

 

5.00%, 10/01/41

 

 

900

 

 

982,161

 

Ventura County Community College
District, GO, Election of 2002, Series
B (NPFGC), 5.00%, 8/01/30

 

 

675

 

 

747,198

 

Yosemite Community College District,
GO, CAB, Election of 2004,
Series D (b):

 

 

 

 

 

 

 

5.12%, 8/01/36

 

 

2,000

 

 

594,960

 

5.18%, 8/01/37

 

 

2,790

 

 

777,824

 

 

 

 

 

 

 

60,319,477

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

1

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Colorado — 0.9%

 

 

 

 

 

 

 

E-470 Public Highway Authority
Colorado, Refunding RB, CAB, Series
B (NPFGC), 5.61%, 9/01/32 (b)

 

$

5,500

 

$

1,811,425

 

Regional Transportation District, COP,
Refunding, Series A, 5.38%, 6/01/31

 

 

1,000

 

 

1,139,940

 

 

 

 

 

 

 

2,951,365

 

Florida — 12.5%

 

 

 

 

 

 

 

Broward County School Board Florida,
COP, Series A (AGM), 5.25%, 7/01/33

 

 

1,000

 

 

1,131,640

 

City of Jacksonville, Refunding RB,
5.00%, 10/01/30

 

 

250

 

 

286,210

 

County of Duval Florida, COP, Master
Lease Program (AGM), 5.00%,
7/01/33

 

 

7,875

 

 

8,552,250

 

County of Lee Florida, Refunding ARB,
Series A, AMT:

 

 

 

 

 

 

 

5.63%, 10/01/26

 

 

825

 

 

939,254

 

5.38%, 10/01/32

 

 

1,100

 

 

1,211,133

 

County of Miami-Dade Florida, RB:

 

 

 

 

 

 

 

Jackson Health System, (AGC),
5.63%, 6/01/34

 

 

900

 

 

995,697

 

Water & Sewer System,
5.00%, 10/01/39

 

 

6,900

 

 

7,696,812

 

County of Miami-Dade Florida,
Refunding RB, Miami International
Airport, AMT (AGC), 5.00%, 10/01/40

 

 

10,300

 

 

10,810,262

 

Florida Ports Financing Commission,
Refunding RB, State Transportation
Trust Fund, Series B, AMT, 5.38%,
10/01/29

 

 

2,400

 

 

2,772,552

 

Highlands County Health Facilities
Authority, RB, Adventist Health
System/Sunbelt, Series B, 6.00%,
11/15/37

 

 

550

 

 

645,480

 

Hillsborough County Aviation Authority
Florida, RB, Series A, AMT (AGC),
5.38%, 10/01/33

 

 

3,250

 

 

3,514,030

 

Sarasota County Public Hospital District,
RB, Sarasota Memorial Hospital
Project, Series A, 5.63%, 7/01/39

 

 

250

 

 

275,120

 

South Florida Water Management
District, COP (AGC), 5.00%, 10/01/22

 

 

1,800

 

 

2,057,814

 

 

 

 

 

 

 

40,888,254

 

Georgia — 5.2%

 

 

 

 

 

 

 

Burke County Development Authority,
Refunding RB, Oglethorpe Power-
Vogtle Project, Series C, 5.70%,
1/01/43

 

 

1,000

 

 

1,089,230

 

City of Atlanta Georgia, Refunding
GARB, Subordinate Lien, Series C
(AGM), 5.00%, 1/01/33

 

 

15,000

 

 

15,879,600

 

 

 

 

 

 

 

16,968,830

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois — 18.2%

 

 

 

 

 

 

 

Chicago Board of Education Illinois, GO,
Series A, 5.50%, 12/01/39

 

$

2,050

 

$

2,389,931

 

Chicago Board of Education Illinois, GO,
Refunding, Chicago School Reform
Board, Series A (NPFGC), 5.50%,
12/01/26

 

 

2,500

 

 

3,108,700

 

City of Chicago Illinois, GARB:

 

 

 

 

 

 

 

O’Hare International Airport,
Third Lien, Series A, 5.75%,
1/01/39

 

 

2,000

 

 

2,357,480

 

O’Hare International Airport, Third
Lien, Series B-2, AMT (AGM),
5.75%, 1/01/23

 

 

5,200

 

 

5,455,216

 

Third Lien, Series B-2, AMT
(Syncora), 6.00%, 1/01/29

 

 

2,200

 

 

2,329,580

 

City of Chicago Illinois, GO:

 

 

 

 

 

 

 

CAB, City Colleges, (NPFGC), 4.57%,
1/01/31 (b)

 

 

8,370

 

 

3,641,787

 

Park District, Harbor Facilities,
Series C, 5.25%, 1/01/37

 

 

4,000

 

 

4,512,600

 

Park District, Harbor Facilities,
Series C, 5.25%, 1/01/40

 

 

500

 

 

565,245

 

City of Chicago Illinois, Refunding GARB,
O’Hare International Airport, General,
Third Lien, Series C-2, AMT (AGM),
5.25%, 1/01/30

 

 

2,000

 

 

2,048,180

 

City of Chicago Illinois Transit Authority,
RB, Sales Tax Receipts Revenue,
5.25%, 12/01/36

 

 

515

 

 

588,413

 

Cook County Forest Preserve District,
GO, Series C, 5.00%, 12/15/37

 

 

285

 

 

319,152

 

Cook County Forest Preserve District,
GO, Refunding, Limited Tax Project,
Series B, 5.00%, 12/15/37

 

 

250

 

 

279,957

 

County of Cook Illinois, GO, CAB, Series
C (AMBAC), 5.50%, 11/15/12 (c)

 

 

2,460

 

 

2,497,810

 

Illinois Finance Authority, RB, Carle
Foundation, Series A, 5.75%,
8/15/34

 

 

400

 

 

444,316

 

Illinois Finance Authority, Refunding RB,
Central DuPage Health, Series B,
5.50%, 11/01/39

 

 

2,070

 

 

2,330,137

 

Illinois Sports Facilities Authority, RB,
State Tax Supported (AMBAC), 5.50%,
6/15/30

 

 

18,175

 

 

19,853,825

 

Metropolitan Pier & Exposition Authority,
RB, CAB, McCormick Place Expansion
Project, Series A (NPFGC), 4.91%,
12/15/36 (b)

 

 

10,000

 

 

3,066,000

 

Metropolitan Pier & Exposition Authority,
Refunding RB, CAB, McCormick Place
Expansion Project, Series B (AGM),
5.12%, 6/15/44 (b)

 

 

2,980

 

 

594,868

 

Railsplitter Tobacco Settlement
Authority, RB, 6.00%, 6/01/28

 

 

575

 

 

669,133

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

2

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Regional Transportation Authority, RB,
Series B (NPFGC), 5.75%, 6/01/33

 

$

2,000

 

$

2,615,900

 

 

 

 

 

 

 

59,668,230

 

Indiana — 1.7%

 

 

 

 

 

 

 

Indiana Finance Authority, RB,
Wastewater Utility, CWA Authority,
First Lien, RB, Series A, 5.25%,
10/01/38

 

 

1,000

 

 

1,157,400

 

Indiana Municipal Power Agency, RB,
Series B, 5.75%, 1/01/34

 

 

350

 

 

370,160

 

Indianapolis Local Public Improvement
Bond Bank, Refunding RB,
Waterworks Project, Series A:

 

 

 

 

 

 

 

5.75%, 1/01/38

 

 

2,000

 

 

2,284,940

 

(AGC), 5.50%, 1/01/38

 

 

1,575

 

 

1,787,499

 

 

 

 

 

 

 

5,599,999

 

Iowa — 3.4%

 

 

 

 

 

 

 

Iowa Finance Authority, RB, Series A
(AGC), 5.63%, 8/15/37

 

 

4,925

 

 

5,592,584

 

Iowa Student Loan Liquidity Corp., RB,
Senior, Series A-2, AMT:

 

 

 

 

 

 

 

5.60%, 12/01/26

 

 

1,440

 

 

1,615,464

 

5.70%, 12/01/27

 

 

1,440

 

 

1,616,688

 

5.80%, 12/01/29

 

 

970

 

 

1,087,215

 

5.85%, 12/01/30

 

 

1,010

 

 

1,129,755

 

 

 

 

 

 

 

11,041,706

 

Kentucky — 0.7%

 

 

 

 

 

 

 

Kentucky State Property & Buildings
Commission, Refunding RB, Project
No. 93 (AGC), 5.25%, 2/01/29

 

 

2,000

 

 

2,302,180

 

Louisiana — 1.1%

 

 

 

 

 

 

 

Louisiana Public Facilities Authority,
Refunding RB, Christus Health, Series
B (AGC), 6.50%, 7/01/30

 

 

1,150

 

 

1,361,933

 

Parish of Saint Charles Louisiana, RB,
Valero Energy Corp. Project, 4.00%,
12/01/40 (d)

 

 

1,370

 

 

1,449,337

 

Parish of Saint John the Baptist
Louisiana, RB, Marathon Oil Corp.,
Series A, 5.13%, 6/01/37

 

 

600

 

 

637,218

 

 

 

 

 

 

 

3,448,488

 

Maine — 0.1%

 

 

 

 

 

 

 

Maine State Housing Authority,
Refunding RB, Series B-1, AMT,
4.25%, 11/15/27

 

 

290

 

 

298,793

 

Massachusetts — 7.1%

 

 

 

 

 

 

 

Massachusetts HFA, RB:

 

 

 

 

 

 

 

Rental Mortgage, Series F,
AMT (AGM), 5.25%,
1/01/46

 

 

12,000

 

 

12,078,840

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Massachusetts (concluded)

 

 

 

 

 

 

 

Massachusetts HFA, RB (concluded):

 

 

 

 

 

 

 

S/F Housing, Series 128, AMT
(AGM), 4.88%, 12/01/38

 

$

1,675

 

$

1,721,280

 

Massachusetts HFA, Refunding RB,
Series C, AMT:

 

 

 

 

 

 

 

5.00%, 12/01/30

 

 

5,000

 

 

5,360,950

 

5.35%, 12/01/42

 

 

975

 

 

1,045,561

 

Massachusetts Water Resources
Authority, Refunding RB, Series A
(NPFGC), 5.00%, 8/01/34

 

 

2,700

 

 

3,083,589

 

 

 

 

 

 

 

23,290,220

 

Michigan — 7.1%

 

 

 

 

 

 

 

City of Detroit Michigan, RB,
Second Lien:

 

 

 

 

 

 

 

Series B, (AGM), 6.25%, 7/01/36

 

 

350

 

 

408,664

 

Series B, (AGM), 7.00%, 7/01/36

 

 

200

 

 

243,076

 

System, Series A, (BHAC), 5.50%,
7/01/36

 

 

4,500

 

 

5,097,825

 

City of Detroit Michigan, Refunding RB:

 

 

 

 

 

 

 

Second Lien, Series E, (BHAC),
5.75%, 7/01/31

 

 

2,200

 

 

2,520,562

 

Series D, (NPFGC), 5.00%, 7/01/28

 

 

1,500

 

 

1,543,410

 

Kalamazoo Hospital Finance Authority,
RB, Bronson Methodist Hospital
(AGM), 5.25%, 5/15/36

 

 

375

 

 

414,802

 

Lansing Board of Water & Light Utilities,
RB, Series A, 5.50%, 7/01/41

 

 

1,700

 

 

2,014,228

 

Michigan Higher Education Student
Loan Authority, Refunding RB,
Student Loan, Series XVII-G, AMT
(AMBAC), 5.20%, 9/01/20

 

 

1,000

 

 

1,001,370

 

Michigan State Building Authority,
Refunding RB, Facilities Program:

 

 

 

 

 

 

 

Series I-A, 5.38%, 10/15/41

 

 

600

 

 

689,892

 

Series II-A, 5.38%, 10/15/36

 

 

1,000

 

 

1,152,370

 

Series II-A (AGM), 5.25%,
10/15/36

 

 

1,900

 

 

2,177,362

 

Michigan State HDA, RB, Series C, AMT,
5.50%, 12/01/28

 

 

860

 

 

932,128

 

Michigan Strategic Fund, Refunding RB,
Detroit Edison Co. Project, AMT
(Syncora):

 

 

 

 

 

 

 

Series A, 5.50%, 6/01/30

 

 

1,000

 

 

1,016,490

 

Series C, 5.45%, 12/15/32

 

 

3,900

 

 

3,916,614

 

 

 

 

 

 

 

23,128,793

 

Minnesota — 0.7%

 

 

 

 

 

 

 

City of Minneapolis Minnesota,
Refunding RB, Fairview Health
Services, Series B (AGC), 6.50%,
11/15/38

 

 

1,800

 

 

2,157,390

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

3

 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Minnesota (concluded)

 

 

 

 

 

 

 

Dakota County Community Development
Agency, RB, Mortgage-Backed
Securities Program, Series B, AMT
(Ginnie Mae), 5.15%, 12/01/38

 

$

—

(e)

$

4

 

 

 

 

 

 

 

2,157,394

 

Mississippi — 0.2%

 

 

 

 

 

 

 

Medical Center Educational Building
Corp., RB, Series A, 5.00%, 6/01/41

 

 

640

 

 

721,530

 

Nebraska — 0.9%

 

 

 

 

 

 

 

Central Plains Energy Project Nebraska,
RB, Gas Project No. 3, 5.25%,
9/01/37

 

 

2,650

 

 

2,811,995

 

Nevada — 2.7%

 

 

 

 

 

 

 

City of Carson City Nevada, RB, Carson-
Tahoe Hospital Project, Series A
(Radian), 5.50%, 9/01/33

 

 

2,650

 

 

2,852,460

 

County of Clark Nevada, ARB:

 

 

 

 

 

 

 

Las Vegas-McCarran International
Airport, Series A, (AGC), 5.25%,
7/01/39

 

 

1,700

 

 

1,905,768

 

Subordinate Lien, Series A-2,
(NPFGC), 5.00%, 7/01/30

 

 

1,250

 

 

1,316,275

 

Subordinate Lien, Series A-2,
(NPFGC), 5.00%, 7/01/36

 

 

2,700

 

 

2,858,328

 

 

 

 

 

 

 

8,932,831

 

New Jersey — 3.7%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax (Radian), 5.50%,
6/15/14 (c)

 

 

85

 

 

93,151

 

Motor Vehicle Surcharge,
Series A (NPFGC), 5.25%,
7/01/33

 

 

6,700

 

 

7,172,216

 

New Jersey Higher Education Student
Assistance Authority, Refunding RB,

 

 

 

 

 

 

 

Series 1, AMT:

 

 

 

 

 

 

 

5.50%, 12/01/25

 

 

500

 

 

576,560

 

5.50%, 12/01/26

 

 

350

 

 

400,302

 

5.75%, 12/01/28

 

 

200

 

 

229,884

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System:

 

 

 

 

 

 

Series A, (NPFGC), 5.75%, 6/15/25

 

 

1,400

 

 

1,810,634

 

Series B, 5.25%, 6/15/36

 

 

1,580

 

 

1,820,492

 

 

 

 

 

 

 

12,103,239

 

New York — 3.3%

 

 

 

 

 

 

 

Hudson New York Yards Infrastructure
Corp., RB, Series A, 5.75%, 2/15/47

 

 

610

 

 

714,963

 

New York City Transitional Finance
Authority, RB, Fiscal 2009, Series S-4,
5.50%, 1/15/33

 

 

3,035

 

 

3,539,235

 

New York HFA, RB, Affordable Housing,
Series B, 5.30%, 11/01/37

 

 

2,835

 

 

2,987,211

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

New York State Thruway Authority, RB,
Series I, 5.00%, 1/01/37

 

$

1,820

 

$

2,060,768

 

Port Authority of New York & New Jersey,
Refunding RB, Consolidated Bonds,
Series 172, AMT, 4.50%, 4/01/37

 

 

1,460

 

 

1,568,872

 

 

 

 

 

 

 

10,871,049

 

North Carolina — 0.2%

 

 

 

 

 

 

 

North Carolina Medical Care
Commission, RB, Novant Health
Obligation, Series A, 4.75%,
11/01/43

 

 

520

 

 

552,781

 

Ohio — 0.5%

 

 

 

 

 

 

 

County of Allen Ohio, Refunding RB,
Hospital Facilities, Catholic Health
Partners, Series A, 5.00%, 5/01/42

 

 

650

 

 

709,143

 

County of Lucas Ohio, Refunding RB,
Promedica Healthcare, Series A,
6.50%, 11/15/37

 

 

460

 

 

574,821

 

Kent State University, ERB, General
Recipts, Series A, 5.00%, 5/01/37

 

 

370

 

 

418,759

 

 

 

 

 

 

 

1,702,723

 

Pennsylvania — 1.5%

 

 

 

 

 

 

 

Pennsylvania HFA, Refunding RB, Series
99A, AMT, 5.25%, 10/01/32

 

 

240

 

 

243,014

 

Pennsylvania Turnpike Commission, RB,
Subordinate, Special Motor License
Fund:

 

 

 

 

 

 

 

6.00%, 12/01/36

 

 

500

 

 

614,825

 

5.50%, 12/01/41

 

 

2,245

 

 

2,628,940

 

Philadelphia School District, GO, Series
E, 6.00%, 9/01/38

 

 

1,300

 

 

1,477,411

 

 

 

 

 

 

 

4,964,190

 

Puerto Rico — 3.8%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB:

 

 

 

 

 

 

 

5.75%, 8/01/37

 

 

620

 

 

693,699

 

6.38%, 8/01/39

 

 

3,000

 

 

3,553,890

 

5.50%, 8/01/42

 

 

350

 

 

377,150

 

6.00%, 8/01/42

 

 

2,500

 

 

2,827,075

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB:

 

 

 

 

 

 

 

CAB, Series A, (NPFGC), 5.55%,
8/01/41 (b)

 

 

10,000

 

 

2,043,600

 

CAB, Series C, 5.39%,
8/01/38 (b)

 

 

4,070

 

 

1,021,000

 

First Sub-Series C, 6.00%,
8/01/39

 

 

725

 

 

831,452

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series C, 5.43%,
8/01/39 (b)

 

 

5,000

 

 

1,176,900

 

 

 

 

 

 

 

12,524,766

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

4

 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

South Carolina — 1.2%

 

 

 

 

 

 

 

South Carolina Jobs-EDA, Refunding RB,
Palmetto Health, Series A (AGM),
6.50%, 8/01/39

 

$

100

 

$

120,927

 

South Carolina Transportation
Infrastructure Bank, RB, Series A,
5.25%, 10/01/40

 

 

3,420

 

 

3,816,959

 

 

 

 

 

 

 

3,937,886

 

Tennessee — 0.4%

 

 

 

 

 

 

 

Memphis Center City Revenue Finance
Corp., RB, Subordinate, Pyramid &
Pinch District, Series B (AGM), 5.25%,
11/01/30

 

 

1,000

 

 

1,186,740

 

Texas — 7.8%

 

 

 

 

 

 

 

Dallas-Fort Worth International Airport
Facilities Improvement Corp., RB,
Series A, AMT (NPFGC), 5.50%,
11/01/33

 

 

5,000

 

 

5,093,900

 

Lone Star College System, GO, 5.00%,
8/15/33

 

 

3,000

 

 

3,481,770

 

Mansfield ISD Texas, GO, School
Building (PSF-GTD), 5.00%, 2/15/33

 

 

1,065

 

 

1,213,386

 

North Texas Tollway Authority,
Refunding RB, First Tier:

 

 

 

 

 

 

 

Series A, 6.00%, 1/01/28

 

 

2,415

 

 

2,851,946

 

System, (NPFGC), 5.75%, 1/01/40

 

 

3,600

 

 

4,030,308

 

System, Series K-1, (AGC),
5.75%, 1/01/38

 

 

3,400

 

 

3,884,398

 

Texas State Turnpike Authority, RB, First
Tier, Series A (AMBAC), 5.75%,
8/15/38

 

 

4,800

 

 

4,840,032

 

 

 

 

 

 

 

25,395,740

 

Vermont — 0.5%

 

 

 

 

 

 

 

Vermont HFA, Refunding RB, Multiple
Purpose, Series C, AMT (AGM), 5.50%,
11/01/38

 

 

1,690

 

 

1,798,566

 

Washington — 2.0%

 

 

 

 

 

 

 

Central Puget Sound Regional Transit
Authority, RB, Series A, 5.00%,
11/01/36

 

 

1,400

 

 

1,594,712

 

Washington Health Care Facilities
Authority, RB:

 

 

 

 

 

 

 

Multicare Health System,
Series A, 5.00%, 8/15/44

 

 

835

 

 

906,342

 

Providence Health & Services,
Series A, 5.00%, 10/01/39

 

 

1,000

 

 

1,086,040

 

Providence Health & Services,
Series A, 5.25%, 10/01/39

 

 

550

 

 

610,302

 

Washington Health Care Facilities
Authority, Refunding RB:

 

 

 

 

 

 

 

Providence Health & Services,
Series A, 5.00%, 10/01/42

 

 

205

 

 

228,690

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Washington (concluded)

 

 

 

 

 

 

 

Washington Health Care Facilities
Authority, Refunding RB (concluded):

 

 

 

 

 

 

 

Providence Health & Services,
Series D, (AGM), 5.25%,
10/01/33

 

$

2,000

 

$

2,203,700

 

 

 

 

 

 

 

6,629,786

 

Wisconsin — 0.4%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, RB, Ascension
Health Senior Credit Group, 5.00%,
11/15/33

 

 

1,200

 

 

1,330,332

 

Total Municipal Bonds – 108.6%

 

 

 

 

 

355,463,899

 
 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f)

 

 

 

 

 

 

 

Arizona — 0.9%

 

 

 

 

 

 

 

Phoenix Arizona Civic Improvement
Corp., RB, Junior Lien, Series A,
5.00%, 7/01/34

 

 

1,000

 

 

1,162,660

 

Salt River Project Agricultural
Improvement & Power District, RB,
Series A, 5.00%, 1/01/38

 

 

1,750

 

 

1,945,003

 

 

 

 

 

 

 

3,107,663

 

California — 3.3%

 

 

 

 

 

 

 

Los Angeles Community College District
California, GO, Election of 2001
(AGM), 5.00%, 8/01/32

 

 

4,330

 

 

4,881,382

 

Los Angeles Community College District
California, GO, Refunding, Election of
2008, 6.00%, 8/01/33

 

 

1,699

 

 

2,069,251

 

San Diego Community College District
California, GO, Election of 2002,
5.25%, 8/01/33

 

 

359

 

 

420,980

 

San Diego County Water Authority, COP,
Refunding, Series 2008-A (AGM),
5.00%, 5/01/33

 

 

3,030

 

 

3,364,633

 

 

 

 

 

 

 

10,736,246

 

Colorado — 0.3%

 

 

 

 

 

 

 

Colorado Health Facilities Authority,
Refunding RB, Catholic Health,
Series A, 5.50%, 7/01/34

 

 

780

 

 

891,333

 

District of Columbia — 1.7%

 

 

 

 

 

 

 

District of Columbia, RB, Series A,
5.50%, 12/01/30

 

 

855

 

 

1,068,642

 

District of Columbia Water & Sewer
Authority, Refunding RB, Series A,
6.00%, 10/01/35

 

 

1,580

 

 

1,923,640

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

5

 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f)

 

Par
(000)

 

Value

 

District of Columbia (concluded)

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, Refunding ARB, System,
Series A, AMT, 5.00%, 10/01/30

 

$

2,190

 

$

2,515,368

 

 

 

 

 

 

 

5,507,650

 

Florida — 10.1%

 

 

 

 

 

 

 

City of Tallahassee Florida, RB, Energy
System (NPFGC), 5.00%, 10/01/37

 

 

4,000

 

 

4,322,400

 

County of Miami-Dade Florida, RB,
Transit System Sales Surtax Revenue,
5.00%, 7/01/42

 

 

1,540

 

 

1,727,988

 

County of Seminole Florida, Refunding
RB, Series B (NPFGC), 5.25%,
10/01/31

 

 

4,200

 

 

5,363,232

 

Florida State Board of Education, GO,
Series D, 5.00%, 6/01/37

 

 

1,189

 

 

1,367,447

 

Highlands County Health Facilities
Authority, RB, Adventist, Series C,
5.25%, 11/15/36

 

 

4,000

 

 

4,276,320

 

Miami-Dade County Expressway
Authority, Refunding RB, Series A
(AGC), 5.00%, 7/01/35

 

 

2,100

 

 

2,329,908

 

Orange County School Board, COP,
Series A:

 

 

 

 

 

 

 

(AGC), 5.50%, 8/01/34

 

 

3,395

 

 

3,927,538

 

(NPFGC), 5.00%, 8/01/31

 

 

9,000

 

 

9,708,930

 

 

 

 

 

 

 

33,023,763

 

Georgia — 1.6%

 

 

 

 

 

 

 

City of Atlanta Georgia, Refunding GARB,
Series B (AGM), 5.25%, 1/01/33

 

 

4,999

 

 

5,329,180

 

Hawaii — 1.7%

 

 

 

 

 

 

 

Honolulu City & County Board of Water
Supply, RB, Series A (NPFGC), 5.00%,
7/01/14 (c)

 

 

5,000

 

 

5,447,750

 

Illinois — 8.8%

 

 

 

 

 

 

 

City of Chicago Illinois, RB, Series A
(AGC), 5.00%, 1/01/38

 

 

4,000

 

 

4,253,000

 

City of Chicago Illinois, Refunding RB:

 

 

 

 

 

 

 

Sales Tax Revenue, Series A,
5.00%, 1/01/41

 

 

700

 

 

786,583

 

Second Lien, (AGM), 5.25%,
11/01/33

 

 

2,549

 

 

2,859,926

 

Illinois State Toll Highway Authority, RB,
Series B, 5.50%, 1/01/33

 

 

3,499

 

 

3,878,373

 

Metropolitan Pier & Exposition Authority,
RB, McCormick Place Expansion
Project, Series A, 5.00%, 6/15/42

 

 

1,630

 

 

1,812,200

 

Regional Transportation Authority, RB
(NPFGC), 6.50%, 7/01/26

 

 

10,000

 

 

13,807,400

 

State of Illinois, RB, Build Illinois,
Series B, 5.25%, 6/15/34

 

 

1,130

 

 

1,283,402

 

 

 

 

 

 

 

28,680,884

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f)

 

Par
(000)

 

Value

 

Louisiana — 1.6%

 

 

 

 

 

 

 

State of Louisiana Gas & Fuels, RB,
Series A (AGM), 5.00%, 5/01/36

 

$

4,600

 

$

5,089,026

 

Massachusetts — 2.4%

 

 

 

 

 

 

 

Massachusetts School Building
Authority, RB, Sale Tax, Series A
(AGM), 5.00%, 8/15/30

 

 

7,195

 

 

7,962,641

 

Michigan — 1.2%

 

 

 

 

 

 

 

Michigan Finance Authority, Refunding
RB, Trinity Health, 5.00%, 12/01/39

 

 

3,700

 

 

4,098,083

 

Nevada — 1.8%

 

 

 

 

 

 

 

City of Las Vegas Nevada, GO, Limited
Tax, Performing Arts Center, 6.00%,
4/01/39

 

 

3,298

 

 

3,857,225

 

Clark County Water Reclamation
District, GO, Series B, 5.75%,
7/01/34

 

 

1,574

 

 

1,981,978

 

 

 

 

 

 

 

5,839,203

 

New York — 2.3%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB, Fiscal 2009, Series A,
5.75%, 6/15/40

 

 

1,050

 

 

1,265,553

 

New York State Dormitory Authority,
ERB, Series B, 5.75%, 3/15/36

 

 

1,005

 

 

1,214,713

 

Port Authority of New York & New Jersey,
Refunding RB, Construction One
Hundred Forty-Third, AMT, 5.00%,
10/01/30

 

 

3,500

 

 

3,829,070

 

Triborough Bridge & Tunnel Authority,
RB, General, Series A-2, 5.25%,
11/15/34

 

 

1,200

 

 

1,387,116

 

 

 

 

 

 

 

7,696,452

 

Ohio — 0.2%

 

 

 

 

 

 

 

State of Ohio, RB, Cleveland Clinic
Health, Series B, 5.50%, 1/01/34

 

 

500

 

 

568,080

 

Puerto Rico — 0.3%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, Series C, 5.25%,
8/01/40

 

 

1,040

 

 

1,154,904

 

 

 

 

 

 

 

 

 

South Carolina — 2.4%

 

 

 

 

 

 

 

Charleston Educational Excellence
Finance Corp., RB, Charleston County
School (AGC):

 

 

 

 

 

 

 

5.25%, 12/01/28

 

 

2,725

 

 

3,024,859

 

5.25%, 12/01/29

 

 

2,425

 

 

2,686,949

 

5.25%, 12/01/30

 

 

880

 

 

974,459

 

South Carolina State Public Service
Authority, Refunding RB, Santee
Cooper, Series A, 5.50%, 1/01/38

 

 

1,125

 

 

1,340,246

 

 

 

 

 

 

 

8,026,513

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

6

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (f)

 

Par
(000)

 

Value

 

South Dakota — 0.3%

 

 

 

 

 

 

 

South Dakota HDA, Refunding RB,
Homeownership, Series K, 5.05%,
5/01/36

 

$

893

 

$

912,757

 

Texas — 4.5%

 

 

 

 

 

 

 

Clear Creek ISD Texas, GO, Refunding,
School Building (PSF-GTD), 5.00%,
2/15/33

 

 

1,900

 

 

2,297,090

 

Cypress-Fairbanks ISD, GO, Refunding,
Schoolhouse (PSF-GTD), 5.00%,
2/15/32

 

 

5,250

 

 

6,013,560

 

Harris County Cultural Education
Facilities Finance Corp., RB, Texas
Children’s Hospital Project, 5.50%,
10/01/39

 

 

4,000

 

 

4,743,000

 

North East ISD Texas, GO, School
Building, Series A (PSF-GTD), 5.00%,
8/01/37

 

 

1,400

 

 

1,593,172

 

 

 

 

 

 

 

14,646,822

 

Virginia — 0.1%

 

 

 

 

 

 

 

Fairfax County IDA Virginia, Refunding
RB, Health Care, Inova Health System,
Series A, 5.50%, 5/15/35

 

 

300

 

 

342,545

 

Wisconsin — 1.1%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, Refunding RB,
Froedtert & Community Health Inc.,
5.25%, 4/01/39

 

 

3,250

 

 

3,605,502

 

Total Municipal Bonds Transferred to Tender Option
Bond (TOB) Trusts – 46.6%

 

 

 

 

 

152,666,997

 

Total Long-Term Investments
(Cost – $461,924,160) – 155.2%

 

 

 

 

 

508,130,896

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.01% (g)(h)

 

 

3,948

 

 

3,948,214

 

Total Short-Term Securities
(Cost – $3,948,214) – 1.2%

 

 

 

 

 

3,948,214

 

Total Investments (Cost - $465,872,374*) – 156.4%

 

 

 

 

 

512,079,110

 

Other Assets Less Liabilities – 0.8%

 

 

 

 

 

2,491,971

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (21.6)%

 

 

 

 

 

(70,698,458

)

VMTP Shares, at Liquidation Value – (35.6)%

 

 

 

 

 

(116,500,000

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

  

$

327,372,623

  

 

 

 

 

 

 

*

As of July 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

 

 

 

 

 

 

Tax cost

 

$

396,118,626

 

 

Gross unrealized appreciation

 

$

46,726,403

 

 

Gross unrealized depreciation

 

 

(1,429,295

)

 

Net unrealized appreciation

 

$

45,297,108

 

 

 

(a)

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 is as of report date.

 

 

(b)

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

 

 

(c)

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.

 

 

(d)

Variable rate security. Rate shown is as of report date.

 

 

(e)

Amount is less than $500.

 

 

(f)

Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(g)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
April 30, 2012

 

Net
Activity

 

Shares
Held at
July 31, 2012

 

Income

 

 

FFI Institutional
Tax-Exempt
Fund

 

 

9,148,110

 

 

(5,199,896

)

 

3,948,214

 

$

481

 

 

 

(h)

Represents the current yield as of report date.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

7

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield Quality Fund II, Inc. (MQT)

 

 

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 following list:

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

ARB

Airport Revenue Bonds

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

EDA

Economic Development Authority

ERB

Education Revenue Bonds

GARB

General Airport Revenue Bonds

Ginnie Mae

Government National Mortgage Association

GO

General Obligation Bonds

HDA

Housing Development Authority

HFA

Housing Finance Agency

IDA

Industrial Development Authority

ISD

Independent School District

NPFGC

National Public Finance Guarantee Corp.

PSF-GTD

Permanent School Fund Guaranteed

RB

Revenue Bonds

Radian

Radian Financial Guaranty

S/F

Single-Family

Syncora

Syncora Guarantee

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

 

•

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

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 or liabilities 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)

 

 

 

 

•

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

 

 

 

 

 

 

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not necessarily an indication of the risks 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 annual report.

 

 

The following table summarizes the Fund’s investments categorized in the disclosure hierarchy as of July 31, 2012:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term
Investments1

 

 

—

 

$

508,130,896

 

 

—

 

$

508,130,896

 

Short-Term
Securities

 

$

3,948,214

 

 

—

 

 

—

 

 

3,948,214

 

Total

 

$

3,948,214

 

$

508,130,896

 

 

—

 

$

512,079,110

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 See above Schedule of Investments for values in each state or political subdivision.

 

Certain of the Fund’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of July 31, 2012, such liabilities are categorized within the disclosure hierarchy as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

TOB trust
certificates

 

 

—

 

$

(70,663,376

)

 

—

 

$

(70,663,376

)

VMTP shares

 

 

—

 

 

(116,500,000

)

 

—

 

 

(116,500,000

)

Total

 

 

—

 

$

(187,163,376

)

 

—

 

$

(187,163,376

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

There were no transfers between levels during the period ended July 31, 2012.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD QUALITY FUND II, INC.

JULY 31, 2012

8

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 13a-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 Quality Fund II, Inc.

 

 
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniYield Quality Fund II, Inc.
   
  Date: September 25, 2012
   
  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/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniYield Quality Fund II, Inc.
   
  Date: September 25, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniYield Quality Fund II, Inc.
     
  Date: September 25, 2012