-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 KdlFvk25nreDNilNpmPzEcFOYC9Xi3oaPwJyferM1ubSFTfrMop1XN3R43IPylg0
 L/oW1LoQx5XAw+owhKIxaQ==

<SEC-DOCUMENT>0000900092-09-000332.txt : 20090626
<SEC-HEADER>0000900092-09-000332.hdr.sgml : 20090626
<ACCEPTANCE-DATETIME>20090626130639
ACCESSION NUMBER:		0000900092-09-000332
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20090430
FILED AS OF DATE:		20090626
DATE AS OF CHANGE:		20090626
EFFECTIVENESS DATE:		20090626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK MUNIYIELD PENNSYLVANIA INSURED FUND
		CENTRAL INDEX KEY:			0000891038
		IRS NUMBER:				223199516
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07136
		FILM NUMBER:		09912016

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		800-441-7762

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MUNIYIELD INSURED PENNSYLVANIA FUND
		DATE OF NAME CHANGE:	20070803

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK MUNIYIELD PENNSYLVANIA FUND
		DATE OF NAME CHANGE:	20070611

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MUNIYIELD PENNSYLVANIA FUND
		DATE OF NAME CHANGE:	19921217
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>mpafinal.htm
<DESCRIPTION>BR MUNIYIELD PENNSYLVANIA INSURED FUND
<TEXT>

<HTML>
<HEAD>
   <TITLE>mpafinal.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">


<!--$$/page=-->
<A name="page_1"></A>

<P align="center">
<FONT face="ArialMT,Arial,Helvetica,sans-serif">UNITEDSTATES</FONT><BR>
<FONT face="ArialMT,Arial,Helvetica,sans-serif">SECURITIESANDEXCHANGECOMMISSION</FONT><BR>
<FONT face="ArialMT,Arial,Helvetica,sans-serif">Washington,D.C.20549</FONT><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FORM N-Q</FONT></B><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MANAGEMENT INVESTMENT COMPANY</FONT></B></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Investment Company Act file number 811-07136</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name of Fund: BlackRock MuniYield Pennsylvania Insured Fund (MPA)</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">MuniYield Pennsylvania Insured Fund, 800 Scudders Mill Road, Plainsboro, NJ, 08536.</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of fiscal year end: 07/31/2009</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of reporting period: 04/30/2009</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 1 &#150; Schedule of Investments</FONT></P>

<HR noshade align="center" width="100%" size=2>


<!--$$/page=-->
<A name="page_2"></A>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="8%"></TD>
     <TD width="14%"></TD>
     <TD width="29%"></TD>
     <TD width="14%"></TD>
     <TD width="12%"></TD>
     <TD width="8%"></TD>
     <TD width="12%"></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=4 noWrap align=left><B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=3 noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments April 30, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=4 noWrap align=right><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp; &nbsp; &nbsp;<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Pennsylvania - 133.5%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Corporate - 7.1%</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Delaware County, Pennsylvania, IDA, Water Facilities Revenue</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding Bonds (Aqua Pennsylvania, Inc. Project), AMT, Series</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">B, 5%, 11/01/36 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">$</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,770</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ 3,991,584</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Montgomery County, Pennsylvania, IDA, Water Facilities</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Bonds (Aqua Pennsylvania, Inc. Project), Series A,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 7/01/42</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,800</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,523,106</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Northumberland County, Pennsylvania, IDA, Water Facilities</FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Refunding Bonds (Aqua Pennsylvania Inc. Project),</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">AMT, 5.05%, 10/01/39 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,010,720</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania Economic Development Financing Authority, Solid</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Waste Disposal Revenue Bonds (Waste Management Inc.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Project), AMT, Series A, 5.10%, 10/01/27</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,200</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">992,952</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">11,518,362</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">County/City/Special</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Chambersburg, Pennsylvania, Area School District, GO,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">District/School District -</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 3/01/26 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,115</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,150,151</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">43.8%</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Chambersburg, Pennsylvania, Area School District, GO,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 3/01/27 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,529,350</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Connellsville, Pennsylvania, Area School District, GO,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series B, 5%, 11/15/37 (c)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">990,970</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Delaware Valley Regional Finance Authority, Pennsylvania,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Local Government Revenue Bonds, Series A,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 8/01/28 (d)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,230</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,329,993</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">East Stroudsburg, Pennsylvania, Area School District, GO,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, 7.75%, 9/01/27 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,375,500</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Erie County, Pennsylvania, Convention Center Authority,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Convention Center Hotel Revenue Bonds, 5%, 1/15/36 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">8,850</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">8,595,297</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Marple Newtown, Pennsylvania, School District, GO,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5%, 6/01/31 (c)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,546,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">North Allegheny, Pennsylvania, School District, GO, Series C,</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 5/01/27 (c)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,175</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,241,446</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Northeastern York School District, Pennsylvania, GO, Series B,</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5%, 4/01/32 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,585</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,574,238</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Authority for Industrial</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Development, Lease Revenue Bonds, Series B,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 10/01/11 (c)(e)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,332,760</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, GO, Refunding, Series A,</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 12/15/32 (c)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,000</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,999,580</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Qualified Redevelopment Authority</FONT></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Bonds, AMT, Series B, 5%, 4/15/27 (a)(b)</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,645</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,096,565</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Redevelopment Authority Revenue</FONT></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=7 align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bonds (Neighborhood Transformation), Series A, 5.50%, 4/15/22</FONT></TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(a)(b)</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,750</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,767,990</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#c0c0c0 colSpan=2 noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Portfolio Abbreviations</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#c0c0c0 noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#c0c0c0 noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#c0c0c0 noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#c0c0c0 noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" bgColor=#c0c0c0 noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">To simplify the listings of portfolio holdings in the Schedule of Investments, the names and</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">descriptions of many of the securities have been abbreviated according to the list below.</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">AMT</FONT></B>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Alternative Minimum Tax (subject to)</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">HFA</FONT></B>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Housing Finance Agency</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">EDR</FONT></B>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Economic Development Revenue Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">IDA</FONT></B>&nbsp;</TD>
     <TD colSpan=3 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Industrial Development Authority</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">GO</FONT></B>&nbsp;</TD>
     <TD colSpan=2 noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">General Obligation Bonds</FONT>&nbsp;</TD>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">S/F</FONT></B>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Single-Family</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR></TABLE><BR>
<P align=center><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>1</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>


<!--$$/page=-->
<A name="page_3"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=19%></TD>
     <TD width=41%></TD>
     <TD width=15%></TD>
     <TD width=10%></TD>
     <TD width=12%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments April 30, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right nowrap colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, School District, GO, Series B,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.625%, 8/01/12 (a)(e)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 10,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 11,335,200</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, School District, GO, Series E,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6%, 9/01/38</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,800</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,073,504</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Reading, Pennsylvania, School District, GO, 5%, 1/15/29 (c)</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,050,580</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Scranton, Pennsylvania, School District, GO, Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5%, 7/15/38 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,457,335</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Shaler Area School District, Pennsylvania, Capital Appreciation,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">GO, 4.788%, 9/01/30 (f)(g)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,145</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,757,040</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">York, Pennsylvania, City School District, GO, Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.25%, 6/01/22 (f)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,040</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,082,245</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">71,286,644</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Education - 9.1%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gettysburg, Pennsylvania, Municipal Authority, College</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Refunding Bonds, 5%, 8/15/23 (b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,955,440</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Higher Educational Facilities Authority,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">State System Revenue Bonds, Series AE, 4.75%, 6/15/32 (b)</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">8,845</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">8,578,765</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">University of Pittsburgh, Pennsylvania, The Commonwealth</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">System of Higher Education, Revenue Bonds (Capital Project),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series B, 5%, 9/15/28</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,200</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,248,048</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">14,782,253</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Health - 11.0%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Allegheny County, Pennsylvania, Hospital Development</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Authority, Health Center Revenue Bonds (University of</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pittsburgh Medical Center Health System), Series B,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6%, 7/01/26 (b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,123,780</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Lehigh County, Pennsylvania, General Purpose Authority,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Hospital Revenue Bonds (Lehigh Valley Health Network),</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, 5%, 7/01/33 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,995</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,413,044</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Monroe County, Pennsylvania, Hospital Authority Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding Bonds (Pocono Medical Center), 5.125%, 1/01/37</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,265</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">998,338</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Higher Educational Facilities Authority</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Bonds (UPMC Health System), Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6%, 1/15/22</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,068,760</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Hospitals and Higher Education</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Facilities Authority, Hospital Revenue Refunding Bonds</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(Presbyterian Medical Center), 6.65%, 12/01/19 (h)</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,747,570</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Sayre, Pennsylvania, Health Care Facilities Authority, Revenue</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding Bonds (Guthrie Healthcare System), Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.875%, 12/01/31</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">590</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">539,455</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">17,890,947</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Housing - 6.6%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania HFA, S/F Mortgage Revenue Refunding Bonds,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series 96A, 4.70%, 10/01/37</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,521,050</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania HFA, S/F Revenue Bonds, AMT, Series 72A, 5.25%,</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4/01/21 (b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,015,350</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Housing Authority Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bonds (Capital Fund Program), Series A, 5.50%, 12/01/18 (c)</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,166,530</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">10,702,930</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=2 face="Arial,Arial,Helvetica,sans-serif">2</FONT></P>

<HR noshade align="center" width="100%" size=2>



<!--$$/page=-->
<A name="page_4"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=22%></TD>
     <TD width=38%></TD>
     <TD width=15%></TD>
     <TD width=10%></TD>
     <TD width=12%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments April 30, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right nowrap colspan=3 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=center nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">State - 24.6%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State, GO, First Series, 5%, 3/15/29</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 1,900</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 1,983,923</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority, Revenue</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Refunding Bonds (The School District of Philadelphia Project),</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series B, 5%, 6/01/26 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">19,025</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">19,458,009</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority, School and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Capital Appreciation Revenue Bonds (Corry Area School</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">District), 4.85%, 12/15/22 (c)(g)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,980</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,019,858</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority, School and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Capital Appreciation Revenue Bonds (Corry Area School</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">District), 4.87%, 12/15/23 (c)(g)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,980</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">944,064</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority, School and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Capital Appreciation Revenue Bonds (Corry Area School</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">District), 4.89%, 12/15/24 (c)(g)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,980</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">879,457</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority, School and</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Capital Appreciation Revenue Bonds (Corry Area School</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">District), 4.92%, 12/15/25 (c)(g)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,980</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">818,473</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority, School</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Bonds (Harrisburg School District), Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5%, 11/15/33 (i)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,200</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,171,788</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Turnpike Commission, Oil Franchise Tax</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Bonds, Series C, 5%, 12/01/32 (b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">13,600</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">13,712,880</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">39,988,452</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Transportation - 16.0%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Turnpike Commission, Turnpike Revenue</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bonds, Series A, 5.50%, 12/01/31 (d)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,800</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,964,814</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Turnpike Commission, Turnpike Revenue</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bonds, Series A, 5.25%, 12/01/32 (d)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">350</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">355,225</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Turnpike Commission, Turnpike Revenue</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bonds, Sub-Series A, 5%, 6/01/39 (i)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,535,770</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=5>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Airport Revenue Bonds, AMT, Series</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">A, 5%, 6/15/37 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,500</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">6,532,200</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Authority for Industrial</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Development, Airport Revenue Refunding Bonds</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(Philadelphia Airport System Project), AMT, Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 7/01/17 (a)(b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,023,320</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Authority for Industrial</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Development, Airport Revenue Refunding Bonds</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(Philadelphia Airport System Project), AMT, Series A,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5.50%, 7/01/18 (a)(b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,655</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,658,363</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">26,069,692</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Utilities - 15.3%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Allegheny County, Pennsylvania, Sanitation Authority, Sewer</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Refunding Bonds, Series A, 5%, 12/01/30 (b)</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,734,450</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Delaware County, Pennsylvania, IDA Revenue Bonds</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(Pennsylvania Suburban Water Company Project), AMT,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Series A, 5.15%, 9/01/32 (d)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,500</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,786,045</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="center">
<FONT size=2 face="Arial,Arial,Helvetica,sans-serif">3</FONT></P>

<HR noshade align="center" width="100%" size=2>



<!--$$/page=-->
<A name="page_5"></A>

<TABLE border=0 cellspacing=0>
<TR>
     <TD width=24%></TD>
     <TD width=36%></TD>
     <TD width=14%></TD>
     <TD width=3%></TD>
     <TD width=9%></TD>
     <TD width=11%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=2>
<B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments April 30, 2009 (Unaudited)</FONT></B>&nbsp;</TD>
	<TD align=right nowrap colspan=4 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=center nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
 &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Northampton Borough, Pennsylvania, Municipal Authority,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Water Revenue Bonds, 5%, 5/15/34 (b)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36;</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">935</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36; 931,008</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State, IDA, EDR, Refunding, 5.50%, 7/01/20 (d)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,347,480</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=6>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia, Pennsylvania, Gas Works Revenue Bonds, 1998</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">General Ordinance, 4th Series, 5%, 8/01/32 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,500</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">4,420,710</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=6>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Reading, Pennsylvania, Area Water Authority, Water Revenue</FONT></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Bonds, 5%, 12/01/27 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,680</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,724,434</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">24,944,127</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds in Pennsylvania</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">217,183,407</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Guam - 1.4%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Transportation - 1.4%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">A.B. Won Guam International Airport Authority, General</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap colspan=2 style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Revenue Refunding Bonds, AMT, Series C, 5%, 10/01/23 (b)</FONT>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">2,294,800</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds - 134.9%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">219,478,207</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Municipal Bonds Transferred to</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Tender Option Bond Trusts (j)</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Pennsylvania - 18.4%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">County/City/Special</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">East Stroudsburg, Pennsylvania, Area School District,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">District/School District - 7.9%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">GO, Refunding, 5%, 9/01/25 (c)</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,000</FONT>&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">7,286,580</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State, GO, 5%, 3/15/28</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,203</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">5,472,367</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">12,758,947</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">State - 10.5%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Pennsylvania State Public School Building Authority,</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">School Lease Revenue Bonds (The School District of</FONT>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Philadelphia Project), 5.25%, 6/01/13 (c)(e)</FONT>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">15,000</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">17,148,750</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds Transferred to</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Tender Option Bond Trusts - 18.4%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">29,907,697</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Long-Term Investments</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Cost - &#36;252,702,629) - 153.3%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">249,385,904</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Short-Term Securities</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap colspan=2 style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Shares</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Money Market Fund - 2.1%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap colspan=2 style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">CMA Pennsylvania Municipal Money Fund, 0.15% (k)(l)</FONT>&nbsp;</TD>
	<TD align=right nowrap colspan=2 style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,454,858</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,454,858</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Short-Term Securities</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">(Cost - &#36;3,454,858) - 2.1%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,454,858</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total Investments (Cost - &#36;256,157,487*) - 155.4%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">252,840,762</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Other Assets Less Liabilities - 1.1%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">1,752,899</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=center colspan=6>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Liability for Trust Certificates, Including Interest Expense</FONT></B></TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=center nowrap>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">and Fees Payable - (8.9)%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(14,492,780)</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Preferred Shares, at Redemption Value - (47.6)%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(77,407,264)</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=left nowrap colspan=2>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Net Assets Applicable to Common Shares - 100.0%</FONT></B>&nbsp;</TD>
	<TD align=left nowrap>
&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36;</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">162,693,617</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">* The cost and unrealized appreciation (depreciation) of investments as of April 30, 2009, as computed for federal</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">income tax purposes, were as follows:</FONT></P>
<TABLE border=0 cellspacing=0>
<TR>
     <TD width=58%></TD>
     <TD width=15%></TD>
     <TD width=25%></TD></TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Aggregate cost</FONT>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36;</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">241,922,147</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gross unrealized appreciation</FONT>&nbsp;</TD>
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36;</FONT>&nbsp;</TD>
	<TD align=center nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">9,850,978</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Gross unrealized depreciation</FONT>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(13,400,736)</FONT>&nbsp;</TD>
</TR>
<TR valign="bottom">
	<TD align=left nowrap>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Net unrealized depreciation</FONT>&nbsp;</TD>
	<TD align=left nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">&#36;</FONT>&nbsp;</TD>
	<TD align=right nowrap style="border-bottom:1px solid #000000;">
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(3,549,758)</FONT>&nbsp;</TD>
</TR>
</TABLE><BR>
<P align="left">
<FONT size=2 face="Arial,Arial,Helvetica,sans-serif">4</FONT></P>

<HR noshade align="center" width="100%" size=2>


<!--$$/page=-->
<A name="page_6"></A>
<P align=left><B><FONT face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></B><BR>
<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Schedule of Investments April 30, 2009 (Unaudited)</FONT></B></P>
<P align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(a) FGIC Insured.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(b) NPFGC Insured.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(c) FSA Insured.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(d) AMBAC Insured.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(e) US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">in full at the date indicated, typically at a premium to par.</FONT><BR>
<BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(f) XL Capital Insured.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(g) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(h) Security is collateralized by Municipal or US Treasury Obligations.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(i) Assured Guaranty Insured.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(j) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">residual interest certificates. These securities serve as collateral in a financing transaction.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(k) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Investment Company Act of 1940, were as follows:</FONT></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="29%"></TD>
     <TD width="17%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Net</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Affiliate</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Activity</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Income</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">CMA Pennsylvania Municipal Money Fund</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp; &nbsp; &nbsp;<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(8,606,304)</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">$ 94,371</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">(l) Represents the current yield as of report date.</FONT><BR>
<BR>
<FONT size=2 face=Wingdings,WingDings>&#159; </FONT><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Effective August 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">framework for measuring fair values and requires additional disclosures about the use of fair value measurements.</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Various inputs are used in determining the fair value of investments, which are as follows:</FONT><BR>
<BR>
<FONT size=2 face=Wingdings,WingDings>&#159; </FONT><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 1 - price quotations in active markets/exchanges for identical securities</FONT><BR>
<FONT size=2 face=Wingdings,WingDings>&#159; </FONT><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">liabilities in markets that are active, quoted prices for identical or similar assets in markets that are not</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">other market-corroborated inputs)</FONT><BR>
<BR>
<FONT size=2 face=Wingdings,WingDings>&#159; </FONT><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">observable inputs are not available (including the Fund's own assumption used in determining the fair</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">value of investments)</FONT><BR>
<BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">investing in those securities. For information about the Fund's policy regarding valuation of investments and other</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">significant accounting policies, please refer to the Fund's most recent financial statements as contained in its semi-</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">annual report.</FONT></P>
<P align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">The following table summarizes the inputs used as of April 30, 2009 in determining the fair valuation of the Fund's</FONT><BR>
<FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">investments:</FONT></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="45%"></TD>
     <TD width="21%"></TD>
     <TD width="33%"></TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Valuation</FONT></B>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Investments in</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Inputs</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=center><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Securities</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Assets</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 1</FONT>&nbsp;</TD>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">$</FONT>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">3,454,858</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 2</FONT>&nbsp;</TD>
     <TD noWrap align=left>&nbsp;</TD>
     <TD noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">249,385,904</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">Level 3</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">-</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD noWrap align=left><B><FONT size=2 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">Total</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=left><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">$</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" noWrap align=right><FONT size=2 face="Trebuchet MS,Arial,Helvetica,sans-serif">252,840,762</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=2 face=Arial,Arial,Helvetica,sans-serif>5</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>


<!--$$/page=-->
<A name="page_7"></A>

<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 2 &#150; Controls and Procedures</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2(a) &#150; The registrant&#146;s principal executive and principal financial officers or persons performing</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">similar functions have concluded that the registrant&#146;s disclosure controls and procedures (as</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#147;1940 Act&#148;)) are effective as of a date within 90 days of the filing of this report based on the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2(b) &#150; There were no changes in the registrant&#146;s internal control over financial reporting (as</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant&#146;s last fiscal</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">quarter that have materially affected, or are reasonably likely to materially affect, the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">registrant&#146;s internal control over financial reporting.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 3 &#150; Exhibits</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certifications &#150; Attached hereto</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the undersigned, thereunto duly authorized.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Donald C. Burke</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Donald C. Burke</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 19, 2009</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company Act of 1940, this report has been signed below by the following persons on behalf</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant and in the capacities and on the dates indicated.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Donald C. Burke</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Donald C. Burke</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer (principal executive officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 19, 2009</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Neal J. Andrews</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Financial Officer (principal financial officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 19, 2009</FONT></P>

<HR noshade align="center" width="100%" size=2>


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certsmpa.htm
<DESCRIPTION>CERTIFICATION
<TEXT>

<HTML>
<HEAD>
   <TITLE>certsmpa.htm - Generated by SEC Publisher for SEC Filing</TITLE>
</HEAD>

<BODY bgcolor="#ffffff">
 <!--$$/page=-->
<A name="page_1"></A>
<P align="left"> <B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EX-99.CERT</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">I, Donald C. Burke, Chief Executive Officer (principal executive officer) of BlackRock MuniYield Pennsylvania Insured</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fund, certify that:</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. I have reviewed this report on Form N-Q of BlackRock MuniYield Pennsylvania Insured Fund;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">material fact necessary to make the statements made, in light of the circumstances under which such statements were made,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">not misleading with respect to the period covered by this report;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">designed under our supervision, to ensure that material information relating to the registrant, including its</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which this report is being prepared;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) designed such internal control over financial reporting, or caused such internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting and the preparation of financial statements for external purposes in accordance with generally</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accepted accounting principles;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">days prior to the filing date of this report, based on such evaluation; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">d) disclosed in this report any change in the registrant's internal control over financial reporting that</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">materially affect, the registrant's internal control over financial reporting; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant's board of directors (or persons performing the equivalent functions):</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) all significant deficiencies and material weaknesses in the design or operation of internal control over</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">summarize, and report financial information; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) any fraud, whether or not material, that involves management or other employees who have a significant</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">role in the registrant's internal control over financial reporting.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 19, 2009</FONT><BR>
<BR>
<U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Donald C. Burke</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Donald C. Burke</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer (principal executive officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></P>
<HR noshade align="center" width="100%" size=2>
<!--$$/page=-->
<A name="page_2"></A>
<P align="left"> <B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EX-99.CERT</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</FONT></B><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock MuniYield</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pennsylvania Insured Fund, certify that:</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. I have reviewed this report on Form N-Q of BlackRock MuniYield Pennsylvania Insured Fund;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">omit to state a material fact necessary to make the statements made, in light of the circumstances under</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which such statements were made, not misleading with respect to the period covered by this report;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">material respects the investments of the registrant as of the end of the fiscal quarter for which the report is</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">filed;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company Act of 1940) for the registrant and have:</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">procedures to be designed under our supervision, to ensure that material information relating to the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">registrant, including its consolidated subsidiaries, is made known to us by others within those</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">entities, particularly during the period in which this report is being prepared;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) designed such internal control over financial reporting, or caused such internal control</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">over financial reporting to be designed under our supervision, to provide reasonable assurance</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">regarding the reliability of financial reporting and the preparation of financial statements for</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">external purposes in accordance with generally accepted accounting principles;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">presented in this report our conclusions about the effectiveness of the disclosure controls and</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">procedures, as of a date within 90 days prior to the filing date of this report, based on such</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">evaluation; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">d) disclosed in this report any change in the registrant's internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting that occurred during the registrant's most recent fiscal quarter that has materially</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">affected, or is reasonably likely to materially affect, the registrant's internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">audit committee of the registrant's board of directors (or persons performing the equivalent functions):</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) all significant deficiencies and material weaknesses in the design or operation of internal</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">control over financial reporting which are reasonably likely to adversely affect the registrant's</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">ability to record, process, summarize, and report financial information; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) any fraud, whether or not material, that involves management or other employees who</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">have a significant role in the registrant's internal control over financial reporting.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: June 19, 2009</FONT></P>
<HR noshade align="center" width="100%" size=2>
<!--$$/page=-->
<A name="page_3"></A>
<P align="left"> <U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Neal J. Andrews</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Financial Officer (principal financial officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock MuniYield Pennsylvania Insured Fund</FONT></P>
<HR noshade align="center" width="100%" size=2>
</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
