UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
| Investment Company Act file number: | 811-08117 | |
| The BlackRock Investment Quality Municipal Trust Inc. | ||
| (Exact name of registrant as specified in charter) | ||
| 100 Bellevue Parkway, Wilmington, DE | 19809 | |
| (Address of principal executive offices) | (Zip code) | |
| Robert S. Kapito, President | ||
| The BlackRock Investment Quality Municipal Trust Inc. | ||
| 40 East 52nd Street, New York, NY 10022 | ||
| (Name and address of agent for service) | ||
| Registrant's telephone number, including area code: | 888-825-2257 | |
| Date of fiscal year end: | October 31, 2004 | |
| Date of reporting period: | July 31, 2004 | |
Item 1. Schedule of Investments
The Trust's schedule of investments pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:
PORTFOLIO OF INVESTMENTS (unaudited)Principal |
|||||||||||
Amount |
Option Call |
||||||||||
Rating1 |
(000) |
Description |
Provisions2 |
Value |
|||||||
| LONG-TERM INVESTMENTS—150.3% | |||||||||||
| Alabama—5.9% | |||||||||||
| AAA | $14,000 | Univ. of Alabama Hosp., Ser. A, 5.875%, 9/01/31, MBIA | 09/10 @ 101 | $ |
15,024,800 | ||||||
| Alaska—2.4% | |||||||||||
| AAA | 6,015 | Alaska Hsg. Fin. Corp., Ser. A, 5.875%, 12/01/24, MBIA | 12/05 @ 102 | 6,228,713 | |||||||
| California—20.7% | |||||||||||
| A3 | 5,770 | California, GO, 5.625%, 5/01/18 | 05/10 @ 101 | 6,248,044 | |||||||
| BBB | 3,495 | Foothill/Eastn. Transp. Corridor Agcy., Toll Road Rev., 5.75%, 1/15/40 | 01/10 @ 101 | 3,474,065 | |||||||
| Golden St. Tobacco Sec. Corp., Ser. B, | |||||||||||
| Baa1 | 13,000 | 5.50%, 6/01/43 | 06/13 @ 100 | 13,018,720 | |||||||
| Baa1 | 6,900 | 5.625%, 6/01/38 | 06/13 @ 100 | 6,969,690 | |||||||
| AAA | 10,945 | Los Altos Sch. Dist., GO, Zero Coupon, 8/01/24, MBIA | 08/13 @ 53.632 | 3,533,812 | |||||||
| AAA | 15,460 | Los Angeles Cnty., Asset Leasing Corp. Rev., 5.95%, 12/01/07, AMBAC | No Opt. Call | 17,329,578 | |||||||
| San Marcos, Spl. Tax Rev., Cmnty. Facs. Dist. No. 02-01, | |||||||||||
| NR | 795 | 5.90%, 9/01/28 | 09/10 @ 102 | 793,943 | |||||||
| NR | 1,485 | 5.95%, 9/01/35 | 09/10 @ 102 | 1,482,832 | |||||||
| 52,850,684 | |||||||||||
| Colorado—4.2% | |||||||||||
| AAA | 3,100 | Arapahoe Cnty. Cap. Impvt. Hwy. Trust Fund, Ser. E, Zero Coupon, 8/31/04 | ETM | 3,097,086 | |||||||
| AAA | 5,000 | Colorado Wtr. Rec. & Pwr. Dev. Auth., Parker Wtr. & San. Dist., Ser. D, | |||||||||
| 5.25%, 9/01/43, MBIA | 09/14 @ 100 | 5,091,550 | |||||||||
| AAA | 2,250 | 3 | E-470 Pub. Hwy. Auth., Ser. B, 6.90%, 8/31/05 | N/A | 2,447,527 | ||||||
| 10,636,163 | |||||||||||
| Connecticut—1.6% | |||||||||||
| Baa3 | 3,000 | Mashantucket Western Pequot Tribe, Ser. A, 5.50%, 9/01/28 | 09/09 @ 101 | 2,960,610 | |||||||
| BBB- | 1,140 | Mohegan Tribe Indians, Pub. Impvt. Priority Dist., 5.25%, 1/01/33 | 01/14 @ 100 | 1,107,362 | |||||||
| 4,067,972 | |||||||||||
| Delaware—3.1% | |||||||||||
| Baa1 | 7,000 | 4 | Charter Mac Equity Issuer Trust, Ser. B, 7.60%, 11/30/50 | 11/10 @ 100 | 8,003,940 | ||||||
| District of Columbia—1.7% | |||||||||||
| BBB | 4,960 | Tobacco Settlement Fin. Corp., 6.50%, 5/15/33 | No Opt. Call | 4,329,386 | |||||||
| Florida—8.3% | |||||||||||
| NR | 2,135 | Fishhawk Cmnty. Dev. Dist. II, Spl. Assmt. Rev., Ser. A, 6.125%, 5/01/34 | 05/13 @ 101 | 2,131,734 | |||||||
| AAA | 515 | Florida Hsg. Fin. Agcy., Sngl. Fam. Mtg. Rev., Ser. A, 6.55%, 7/01/14 | 01/05 @ 102 | 527,993 | |||||||
| NR | 3,700 | Hillsborough Cnty. Ind. Dev. Auth., Natl. Gypsum, Ser. A, 7.125%, 4/01/30 | 10/10 @ 101 | 3,885,000 | |||||||
| BB | 4,755 | Miami Beach Hlth. Facs. Auth., Mt. Sinai Med. Ctr., 6.75%, 11/15/21 | 11/14 @ 100 | 4,823,472 | |||||||
| NR | 10,000 | Village Cmnty. Dev. Dist. No. 6, Spl. Assmt. Rev., 5.625%, 5/01/22 | 05/13 @ 100 | 9,946,200 | |||||||
| 21,314,399 | |||||||||||
| Georgia—0.6% | |||||||||||
| BBB | 1,500 | Milledgeville Baldwin Cnty. Dev. Auth., Georgia Coll. & St. Univ. Fndtn., | |||||||||
| 6.00%, 9/01/33 | 09/14 @ 101 |
1,529,625 | |||||||||
| Hawaii—1.1% | |||||||||||
| AAA | 2,500 | Hawaii Dept. of Budget & Fin., Hawaiian Elec. Co. Inc., Ser. D, | |||||||||
| 6.15%, 1/01/20, AMBAC | 01/09 @ 101 |
2,781,275 | |||||||||
| Illinois—14.8% | |||||||||||
| NR | 1,920 | Centerpoint Intermodal Ctr., Ser. A, 8.00%, 6/15/23 | No Opt. Call | 1,880,160 | |||||||
| Chicago Brd. of Ed., Sch. Reform, AMBAC, | |||||||||||
| AAA | 8,960 | 3 | 5.75%, 12/01/07 | N/A | 10,075,878 | ||||||
| AAA | 1,040 | 5.75%, 12/01/27 | 12/07 @ 102 | 1,099,270 | |||||||
| AAA | 5,000 | Chicago Pub. Bldg., Ser. A, 7.00%, 1/01/20, MBIA | ETM | 6,352,600 | |||||||
| Illinois Edl. Fac. Auth., FGIC, | |||||||||||
| AAA | 4,000 | 5.45%, 7/01/14 | 08/04 @ 101 | 4,087,040 | |||||||
| AAA | 5,000 | 5.70%, 7/01/13 | 08/04 @ 101 | 5,114,950 | |||||||
| AA+ | 5,800 | Illinois Fin. Auth., Northwestern Mem. Hosp., Ser. A, 5.50%, 8/15/43 | 08/14 @ 100 | 5,837,120 | |||||||
| AAA | 3,540 | O’Hare Intl. Arpt., Ser. C-2, 5.25%, 1/01/30, FSA | 01/14 @ 100 | 3,537,982 | |||||||
| 37,985,000 | |||||||||||
1
BlackRock Investment Quality Municipal Trust (BKN) (continued)
BlackRock Investment Quality Municipal Trust (BKN) (continued)
3
BlackRock Investment Quality Municipal Trust (BKN) (continued)
KEY TO ABBREVIATIONS
Item 2. Controls and Procedures
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s
disclosure controls and procedures are effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal
quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 3. Exhibits.
(a) Separate certifications of Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Indiana—4.0%
BBB
$10,000
Indianapolis Arpt. Auth., Fed. Express
Corp. Proj., 5.10%, 1/15/17
No Opt. Call
10,106,800
Kentucky—2.2%
AAA
15,715
Kentucky Econ. Dev. Fin. Sys., Norton
Hlth. Care Inc., Ser. B, Zero Coupon,
10/01/23, MBIA
No Opt. Call
Louisiana—3.4%
AAA
4,640
New Orleans, GO, 5.875%, 11/01/29,
FSA
11/09 @ 100
5,021,083
BBB
4,460
Tobacco Settlement Fin. Corp., Ser.
B, 5.875%, 5/15/39
05/11 @ 101
3,640,921
8,662,004
Maryland—2.4%
BBB
1,740
Maryland Hlth. & Higher Edl.
Facs. Auth., Medstar Hlth., 5.50%, 8/15/33
08/14 @ 100
1,693,490
NR
4,000
4,5
MuniMae TE Bond Subsidiary, LLC,
Ser. B, 7.75%, 6/30/50
11/10 @ 100
4,492,000
6,185,490
Michigan—1.6%
BB+
4,000
Midland Cnty. Econ. Dev., Ser. A,
6.875%, 7/23/09
07/07 @ 101
4,143,880
Missouri—1.6%
Lake of the Ozarks Cmnty. Brdg. Corp.,
Brdg. Sys.,
BBB-
2,000
5.25%, 12/01/14
12/08 @ 102
1,954,300
BBB-
2,500
5.25%, 12/01/26
12/08 @ 102
2,183,875
4,138,175
New Jersey—4.0%
AAA
2,000
Delaware River Port. Auth. of PA
& NJ, Port Dist. Proj., Ser. B, 5.70%, 1/01/22,
FSA
01/10 @ 100
2,177,540
AAA
7,000
3
New Jersey Transp. Trust Fund Auth.,
Transp. Sys., Ser. A, 6.00%, 6/15/10
N/A
8,040,060
10,217,600
New Mexico—0.8%
AAA
1,945
Farmington PCR, So. California Edison
Co., Ser. A, 5.875%, 6/01/23, MBIA
08/04 @ 101
1,969,565
New York—13.0%
New York City, GO,
A+
4,140
Ser. A, 6.00%, 8/01/05
No Opt. Call
4,321,001
A+
7,000
6
Ser. E, 6.50%, 2/15/06
No Opt. Call
7,452,690
New York City Ind. Dev. Agcy., Term.
One Grp. Assoc. Proj.,
A3
4,000
6.00%, 1/01/08
08/04 @ 102
4,100,200
A3
1,000
6.00%, 1/01/15
08/04 @ 102
1,024,950
New York City Transl. Fin. Auth.,
Ser. B,
AA+
8,145
3
6.00%, 5/15/10
N/A
9,453,983
AA+
1,855
6.00%, 11/15/21
05/10 @ 101
2,077,488
New York Dorm. Auth., Univ. of Rochester,
Ser. A, MBIA,
AAA
2,030
Zero Coupon, 7/01/23
07/10 @ 101
1,544,728
AAA
1,865
Zero Coupon, 7/01/21
07/10 @ 101
1,430,679
A+
1,955
New York Hsg. Fin. Agcy., Hlth. Fac.
of New York City, Ser. A, 6.375%, 11/01/04
No Opt. Call
1,977,600
33,383,319
North Carolina—2.2%
AAA
5,000
No. Carolina Eastn. Mun. Pwr. Agcy.,
Sys. Rev., Ser. B, 7.00%, 1/01/08,
CAPMAC
No Opt. Call
5,679,700
Ohio—3.7%
Cuyahoga Cnty.,
A1
3,485
Cleveland Clinic Hlth. Sys., 6.00%,
1/01/20
07/13 @ 100
3,767,599
A1
5,000
Cleveland Clinic Hlth. Sys., 6.00%,
1/01/21
07/13 @ 100
5,386,650
AAA
335
Port Dev. Proj., 6.00%, 3/01/07
ETM
357,746
9,511,995
Oregon—1.7%
BB+
4,300
Klamath Falls Elec., Klamath Cogen,
5.50%, 1/01/07
No Opt. Call
4,354,825
Pennsylvania—5.1%
McKeesport Area Sch. Dist., FGIC,
AAA
$ 870
Zero Coupon, 10/01/31
ETM
204,119
AAA
2,435
Zero Coupon, 10/01/31
No Opt. Call
550,432
Pennsylvania Econ. Dev. Fin. Auth.,
Amtrak Proj., Ser. A,
A3
2,000
6.25%, 11/01/31
05/11 @ 101
2,044,020
A3
3,100
6.375%, 11/01/41
05/11 @ 101
3,172,695
A
2,750
Pennsylvania Higher Edl. Fac. Auth.,
Univ. of Pennsylvania Hlth. Svcs., Ser. A,
5.875%, 1/01/15
01/06 @ 101
2,858,515
AAA
4,000
Pennsylvania Intergovtl. Coop. Auth.,
Spec. Tax, Philadelphia Fdg. Prog.,
5.50%, 6/15/20, FGIC
06/06 @ 100
4,225,320
13,055,101
Rhode Island—0.8%
AAA
2,000
Rhode Island Hlth. & Edl. Bldg.
Corp., Hosp. Fin., 5.50%, 5/15/16, MBIA
05/07 @ 102
2,128,660
South Carolina—3.3%
So. Carolina Jobs Econ. Dev. Auth.,
Hosp. Facs. Rev., Palmetto Hlth. Alliance,
BBB
2,185
Ser. A, 6.25%, 8/01/31
08/13 @ 100
2,253,478
BBB
4,000
Ser. C, 6.875%, 8/01/27
08/13 @ 100
4,325,000
BBB
2,090
Tobacco Settlement Rev. Mgmt. Auth.,
Ser. B, 6.375%, 5/15/30
No Opt. Call
1,782,833
8,361,311
Tennessee—5.2%
Baa1
7,800
Maury Cnty. Ind. Dev. Brd., PCR,
Saturn Corp. Proj., 6.50%, 9/01/24
09/04 @ 102
7,964,502
AAA
4,865
Memphis Shelby Cnty. Arpt. Auth.,
Ser. D, 6.00%, 3/01/24, AMBAC
03/10 @ 101
5,270,498
13,235,000
Texas—11.7%
BBB
6,000
Brazos River Auth., PCR, TXU Elec.
Co. Proj., Ser. C, 6.75%, 10/01/38
10/13 @ 101
6,255,660
Dallas Cnty. Util. & Cap. Reclam.
Dist., Ser. A, AMBAC,
AAA
6,085
Zero Coupon, 2/15/19
02/05 @ 44.538
2,656,163
AAA
3,800
Zero Coupon, 2/15/20
02/05 @ 41.799
1,556,062
AAA
6,000
Grapevine, GO, 5.875%, 8/15/24, FGIC
08/10 @ 100
6,549,660
AAA
5,000
Harris Cnty. Houston Sports Auth.,
Ser. A, Zero Coupon, 11/15/38, MBIA
11/30 @ 61.166
670,450
BBB
1,930
Matagorda Cnty. Navigation Dist.
No. 1, 5.60%, 3/01/27
03/14 @ 101
1,934,246
Baa1
6,320
Texas Affordable Hsg. Corp., Multi-Fam.
Hsg. Rev., 5.80%, 11/01/26
11/11 @ 102
6,180,391
AAA
15,000
Texas Tpke. Auth., Central Sys. Rev.,
Zero Coupon, 8/15/31, AMBAC
08/12 @ 32.807
3,015,300
Aa1
1,000
Texas Wtr. Fin. Asst., GO, 5.75%,
8/01/22
08/10 @ 100
1,090,050
29,907,982
Utah—1.2%
Intermountain Pwr. Agcy., Pwr. Sply.
Rev.,
AAA
1,950
5.00%, 7/01/13, AMBAC
ETM
1,971,392
A+
1,145
Ser. B, 5.00%, 7/01/16
ETM
1,151,881
3,123,273
Washington—7.7%
Washington, GO,
Aa1
4,000
Ser. A, 5.375%, 7/01/21
07/06 @ 100
4,148,400
Aa1
1,000
Ser. B, 6.00%, 1/01/25
01/10 @ 100
1,093,080
AAA
13,395
Washington Pub. Pwr. Sply., Nuclear
Proj. No. 1, 5.75%, 7/01/11, MBIA
07/06 @ 102
14,467,002
19,708,482
Wisconsin—6.2%
BBB
14,800
Badger Tobacco Asset Sec. Corp.,
6.375%, 6/01/32
06/12 @ 100
12,558,688
A-
3,220
Wisconsin Hlth. & Edl. Facs.
Auth., Aurora Hlth. Care, 6.40%, 4/15/33
04/13 @ 100
3,368,539
15,927,227
Wyoming—4.1%
A3
10,000
Sweetwater Cnty. PCR, Idaho Pwr.
Co. Proj., Ser. A, 6.05%, 7/15/26
07/06 @ 102
10,551,700
Total Long-Term Investments (cost $363,808,432)
384,778,261
SHORT-TERM INVESTMENTS—5.8%
Puerto Rico—0.1%
A-1
$ 400
7
Puerto Rico Gov’t. Dev. Bank, 1.02%, 8/04/04, MBIA, FRWD
400,000
Shares
(000)
Money Market Funds—5.7%
12,750
AIM Tax Free Investment Co. Cash
Reserve Portfolio
12,750,000
1,800
SSgA Tax Free Money Mkt. Fund
1,800,000
14,550,000
Total Short-Term Investments
(cost $14,950,000)
14,950,000
Total Investments—156.1%
(cost $378,758,432)
399,728,261
Other assets in excess of liabilities—1.1%
2,970,113
Preferred shares at redemption value,
including dividends payable—(57.2)%
(146,596,331)
Net Assets Applicable to Common Shareholders—100%
256,102,043
1
Using the higher of Standard &
Poor’s, Moody’s Investors Service or Fitch Ratings ratings.
2
Date (month/year) and price of the
earliest call or redemption. There may be other call provisions at varying prices
at later dates.
3
This bond is prerefunded. Securities
held in escrow are used to pay interest on this security, as well as to retire the
bond in full at the date indicated, typically at a premium to par.
4
Security is not registered under
the Securities Act of 1933. These securities may be resold in transactions in accordance
with Rule 144A under that Act, to qualified institutional buyers. As of July 31,
2004, the Trust held 4.9% of its net assets, with a current market value of $12,495,940,
in securities restricted as to resale.
5
Security is deemed to be of investment
grade quality by the investment advisor.
6
Entire or partial principal amount
pledged as collateral for financial futures contracts.
7
For purposes of amortized cost valuation,
the maturity date of this instrument is considered to be the earlier of the next
date on which the security can be redeemed at par, or the next date on which the
rate of interest is adjusted. Rate shown as of July 31, 2004.
AMBAC
—
American Municipal Bond Assurance Corporation
FSA
—
Financial Security Assurance
CAPMAC
—
Capital Markets Assurance Company
GO
—
General Obligation
ETM
—
Escrowed to Maturity
MBIA
—
Municipal Bond Insurance Association
FGIC
—
Financial Guaranty Insurance Company
PCR
—
Pollution Control Revenue
FRWD
—
Floating Rate Weekly Demand
| (Registrant) | The BlackRock Investment Quality Municipal Trust Inc. | |
| By: | /s/ Henry Gabbay | |
| Name: | Henry Gabbay | |
| Title: | Treasurer | |
| Date: | September 28, 2004 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By: | /s/ Robert S. Kapito | |
| Name: | Robert S. Kapito | |
| Title: | Principal Executive Officer | |
| Date: | September 28, 2004 |
| By: | /s/ Henry Gabbay | |
| Name: | Henry Gabbay | |
| Title: | Principal Financial Officer | |
| Date: | September 28, 2004 |