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:__811-07354______

                              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
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, 2007
Date of reporting period:   January 31, 2007


Item 1. Schedule of Investments.

The Registrant’s unaudited schedule of investments as of the close of the reporting period pursuant to Rule 30b1-5 under the Investment Company Act of 1940 is as follows:

PORTFOLIO OF INVESTMENTS (unaudited)
JANUARY 31, 2007
BlackRock Investment Quality Municipal Trust (BKN)
(Percentage of Net Assets)

      Principal                    
    Amount       Option Call      
Rating1   (000)   Description   Provisions2     Value
        LONG-TERM INVESTMENTS—154.1%          
        Alabama—7.7%          
AAA   $ 1,865   Birmingham Wtr. Wks. & Swr. Brd., Wtr. Util. Impvt. Wtr. RB, Ser. A, 4.50%, 1/01/35,          
           FSA   01/16 @ 100   $ 1,850,285
        Spl. Care Facs. Fing. Auth.-Birmingham, Hlth., Hosp. & Nursing Home RB, Ascension Hlth. Proj.,          
AA+   1,765      Ser. C-2, 5.00%, 11/15/36   11/16 @ 100     1,828,470
AA+   1,265      Ser. C-2, 5.00%, 11/15/39   11/16 @ 100     1,307,061
AAA   14,000 3 Univ. of Alabama Hosp., Hlth., Hosp. & Nursing Home Impvts. RB, Ser. A, 5.875%,          
           9/01/10, MBIA   N/A     15,101,100
                  20,086,916
        Arizona—0.7%          
        San Luis Fac. Dev. Corp., Correctional Fac. Impvts. Misc. RB, Regl. Detention Ctr. Proj.,          
NR   490      6.25%, 5/01/15   05/10 @ 107     494,557
NR   490      7.00%, 5/01/20   05/10 @ 107     494,523
NR   980      7.25%, 5/01/27   05/10 @ 107     994,553
                  1,983,633
        California—23.7%          
        California GO,          
A+   5,800      5.00%, 2/01/32   08/13 @ 100     6,010,830
A+   3,485      5.00%, 6/01/34   12/14 @ 100     3,629,105
Aaa   4,140 3    5.625%, 5/01/10   N/A     4,426,992
A+   860 3    5.625%, 5/01/10   N/A     919,116
A+   770      5.625%, 5/01/18   05/10 @ 101     814,183
AAA   10,000   California, Pub. Impvts. Ad Valorem Ppty. Tax GO, 5.00%, 3/01/33, CIFG-TCRS   03/15 @ 100     10,494,200
        Cnty. Tobacco Sec. Agcy., Tobacco Settlement Funded RB,          
BBB-   1,340      Ser. B, Zero Coupon, 6/01/46   06/16 @ 17.602     137,578
BB   7,090      Ser. C, Zero Coupon, 6/01/55   06/16 @ 8.9     333,443
NR   9,060      Stanislaus Cnty. Proj., Ser. D, Zero Coupon, 6/01/55   06/16 @ 6.219     300,520
        Foothill Eastn. Transp. Corridor Agcy., Hwy. Tolls RB,          
BBB   3,495      5.75%, 1/15/40   01/10 @ 101     3,622,917
BBB   7,000      Conv. Cap. Apprec. Proj., Zero Coupon, 1/15/28   01/14 @ 101     6,437,900
AAA   10,945 3 Los Altos Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax GO, Zero Coupon, 8/01/13,          
           MBIA   N/A     4,562,970
AAA   15,460   Los Angeles Cnty. Cap. Asset Leasing Corp., Lease Abatement RB, 3.80%, 12/01/07,          
           AMBAC   No Opt. Call     15,753,895
AA-   4,185   Univ. of California, Univ. & Coll. Impvts. RB, Ser. B, 4.75%, 5/15/38   05/13 @ 101     4,259,535
                  61,703,184
        Colorado—0.8%          
AAA   1,030   City of Colorado Springs, Mult. Util. Impvts. RB, Ser. C, 5.00%, 11/15/45, FSA   11/15 @ 100     1,078,400
Baa2   1,020   Park Creek Met. Dist., Ppty. Tax Misc. RB, 5.50%, 12/01/37   12/15 @ 101     1,077,548
                  2,155,948
        Connecticut—1.2%          
Baa3   3,000 4 Mashantucket Western Pequot Tribe, Casino RB, Ser. A, 5.50%, 9/01/28   09/09 @ 101     3,073,920
        District of Columbia—2.3%          
BBB   4,960   Tobacco Settlement Fing. Corp., Tobacco Settlement Funded RB, 6.50%, 5/15/33   No Opt. Call     5,912,469
        Florida—18.7%          
        Cnty. of Miami-Dade, Recreational Fac. Impvts. Misc. SO,          
AAA   3,380      Ser. A, Zero Coupon, 10/01/31, MBIA   10/15 @ 44.051     996,289
AAA   4,225      Ser. A, Zero Coupon, 10/01/32, MBIA   10/15 @ 41.782     1,179,198
AAA   4,000      Ser. A, Zero Coupon, 10/01/33, MBIA   10/15 @ 39.621     1,056,880
AAA   4,580      Ser. A, Zero Coupon, 10/01/34, MBIA   10/15 @ 37.635     1,148,481
AAA   5,000      Ser. A, Zero Coupon, 10/01/35, MBIA   10/15 @ 35.678     1,189,650
AAA   10,000      Ser. A, Zero Coupon, 10/01/36, MBIA   10/15 @ 33.817     2,251,300
AAA   10,000      Ser. A, Zero Coupon, 10/01/37, MBIA   10/15 @ 32.047     2,131,700
AAA   7,895   Cnty. of Orange, Sales Tax RB, 4.75%, 10/01/32, XLCA   10/16 @ 100     8,043,505
NR   2,080   Fishhawk Cmnty. Dev. Dist. II, Pub. Impvts. TA, Ser. A, 6.125%, 5/01/34   05/13 @ 101     2,198,643
BBB+   2,415   Halifax Hosp. Med. Ctr., Hlth., Hosp. & Nursing Home RB, Ser. A, 5.00%, 6/01/38   06/16 @ 100     2,449,027

1



BlackRock Investment Quality Municipal Trust (BKN) (continued)
(Percentage of Net Assets)

      Principal                    
    Amount       Option Call      
Rating1   (000)   Description   Provisions2     Value
        Florida—(cont'd)          
NR5   $      3,700   Hillsborough Cnty. Indl. Dev. Auth. RB, Nat. Gypsum Proj., Ser. A, 7.125%, 4/01/30,          
           AMT   10/10 @ 101   $ 4,051,426
AAA   1,215   JEA, Wtr. Util. Impvts. Wtr. RB, Ser. A, 4.75%, 10/01/36, MBIA   04/11 @ 100     1,234,197
NR   2,220   Live Oak Cmnty. Dev. Dist. No. 2, Pub. Impvts. SA, Ser. A, 5.85%, 5/01/35   05/12 @ 101     2,273,369
BB+   4,755   Miami Beach Hlth. Facs. Auth., Hlth., Hosp. & Nursing Home Impvts. RB, Mt. Sinai Med.          
           Ctr. Proj., 6.75%, 11/15/21   11/14 @ 100     5,384,229
NR   3,770   Sumter Landing Cmnty. Dev. Dist., Retirement Facs. Misc. RB, Ser B, 5.70%, 10/01/38   10/15 @ 100     3,849,773
NR   9,115   Vlg. Cmnty. Dev. Dist. No. 6, Pub. Impvts. SA, 5.625%, 5/01/22   05/13 @ 100     9,274,877
                  48,712,544
        Georgia—3.1%          
        City of Atlanta,          
AAA   2,245      Arpt. Passenger Fac., Port, Arpt. & Marina Impvts. RB, Ser. J, 5.00%, 1/01/34, FSA   01/15 @ 100     2,340,233
AAA   4,000      Wtr. & Wstwtr., Wtr. Util. Impvts. RB, 5.00%, 11/01/34, FSA   11/14 @ 100     4,188,000
BBB   1,500   Milledgeville & Baldwin Cnty. Dev. Auth., Univ. & Coll. Impvts. RB, Georgia Coll. & St.          
           Univ. Fndtn. Proj., 6.00%, 9/01/33   09/14 @ 101     1,653,840
                  8,182,073
        Hawaii—1.0%          
AAA   2,500   Dept. of Budget & Fin., Elec., Pwr. & Lt. RB, Hawaiian Elec. Co., Inc. Proj., Ser. D,          
           6.15%, 1/01/20, AMBAC, AMT   01/09 @ 101     2,619,700
        Illinois—13.6%          
NR   1,920 4 Centerpoint Intermodal Ctr. Prog. Trust TA, Ser. A, 8.00%, 6/15/23   No Opt. Call     1,974,989
AAA   1,040 3 Chicago Brd. of Ed. Sch. Reform, Sch. Impvts. Ad Valorem Ppty. Tax GO, 5.75%,          
           12/01/07, AMBAC   N/A     1,077,918
AAA   3,540   Chicago O'Hare Intl. Arpt., Port, Arpt. & Marina RB, Ser. C-2, 5.25%, 1/01/30, FSA, AMT   01/14 @ 100     3,706,876
AAA   5,000 6 Chicago Pub. Bldg. Comm. Bldg., Sch. Impvts. Ad Valorem Ppty. Tax RB, Ser. A, 7.00%,          
           1/01/20, MBIA   ETM     6,356,200
        Fin. Auth.,          
BBB   1,665      Coll. & Univ. RB, Edl. Advancement, Ser. B, 5.00%, 5/01/25   11/16 @ 100     1,706,209
BBB   1,330      Coll. & Univ. RB, Edl. Advancement, Ser. B, 5.00%, 5/01/30   11/16 @ 100     1,358,741
BB+   690      Hlth., Hosp. & Nursing Home RB, Friendship Vlg. Schaumburg Proj., Ser. A, 5.625%,          
           2/15/37   02/15 @ 100     709,506
AA+   5,800      Hlth., Hosp. & Nursing Home RB, Northwestern Mem. Hosp. Proj., Ser. A, 5.50%,          
           8/15/43   08/14 @ 100     6,282,792
Baa2   875      Univ. & Coll. Impvts. RB, MJH Ed. Asst. LLC Proj., Ser. A, 5.125%, 6/01/35   06/14 @ 100     896,691
Baa3   700      Univ. & Coll. Impvts. RB, MJH Ed. Asst. LLC Proj., Ser. B, 5.375%, 6/01/35   06/14 @ 100     717,192
AAA   3,980   Mun. Elec. Agcy., Elec., Pwr. & Lt. RB, 4.50%, 2/01/35, FGIC   02/16 @ 100     3,930,051
AAA   6,500   Vlg. of Bolingbrook, Ad Valorem Ppty. Tax GO, Ser. A, 4.75%, 1/01/38, MBIA   01/15 @ 100     6,624,345
                  35,341,510
        Indiana—1.2%          
AAA   3,050   Mun. Pwr. Agcy. Pwr. Sply. Sys., Elec., Pwr. & Lt. Impvts. RB, Ser. A, 4.50%, 1/01/32,          
           AMBAC   01/16 @ 100     3,027,308
        Kansas—0.7%          
A   1,690   Univ. of Kansas Hosp. Auth., Hlth., Hosp. & Nuring Home RB, Univ. of Kansas Hlth. Sys.          
           Proj., 5.00%, 9/01/36   09/16 @ 100     1,745,821
        Kentucky—2.3%          
AAA   13,500   Econ. Dev. Fin. Auth., Hlth., Hosp. & Nursing Home RB, Norton Hlth. Care, Inc. Proj.,          
           Ser. B, Zero Coupon, 10/01/23, MBIA   No Opt. Call     6,113,610

2



BlackRock Investment Quality Municipal Trust (BKN) (continued)
(Percentage of Net Assets)

      Principal                    
    Amount       Option Call      
Rating1   (000)   Description   Provisions2     Value
        Maryland—1.5%          
        Hlth. & Higher Edl. Facs. Auth., Hlth., Hosp. & Nursing Home Impvts. RB,          
NR   $      2,200      King Farm Presbyterian Cmnty. Proj., 5.00%, 1/01/17   01/09 @ 100     $ 2,203,894
A3   1,740      Medstar Hlth., Inc. Proj., 5.50%, 8/15/33   08/14 @ 100     1,846,749
                  4,050,643
        Massachusetts—1.2%          
AA   3,075   Wtr. Res. Auth., Wtr. RB, Ser. A, 5.00%, 8/01/41   08/16 @ 100     3,221,862
        Michigan—0.7%          
A1   1,670   Hosp. Fin. Auth., Hlth., Hosp. & Nursing Home RB, Henry Ford Hlth. Sys. Proj., Ser. A,          
           5.25%, 11/15/46   11/16 @ 100     1,752,782
        Mississippi—1.0%          
BBB+   2,535   Business Fin. Comm., Indl. Impvts. RB, Northrop Grumman Ship Sys. Proj., 4.55%,          
           12/01/28   12/16 @ 100     2,520,272
        Missouri—1.1%          
AAA   2,820   Joint Mun. Elec. Util. Comm., Elec., Pwr. & Lt. Impvts. RB, Plum Point Proj., 4.60%,          
           1/01/36, MBIA   01/16 @ 100     2,834,241
        Multi-State—4.7%          
Baa1   7,000 4 Charter Mac Equity Issuer Trust, Ser. B, 7.60%, 11/30/10   No Opt. Call     7,710,220
Baa1   4,000 4 MuniMae TE Bond Subsidiary LLC, Ser. B, 7.75%, 6/30/50   11/10 @ 100     4,431,720
                  12,141,940
        Nebraska—3.1%          
        Omaha Pub. Pwr. Dist., Elec., Pwr. & Lt. Impvts. RB,          
AA   2,765      Ser. A, 4.75%, 2/01/44   02/14 @ 100     2,797,848
AA   5,000      Ser. A, 5.00%, 2/01/34   02/14 @ 100     5,200,450
                  7,998,298
        Nevada—2.1%          
A+   2,065   Cnty. of Clark, Private Schs. RB, Alexander Dawson Sch. Proj., 5.00%, 5/15/29   05/16 @ 100     2,137,791
AAA   3,200   Truckee Meadows Wtr. Auth., Wtr. RB, 4.875%, 7/01/34, XLCA   07/16 @ 100     3,281,280
                  5,419,071
        New Jersey—4.3%          
BBB   7,000   Econ. Dev. Auth., Econ. Impvts. Misc. RB, Cigarette Tax Proj., 5.75%, 6/15/29   06/14 @ 100     7,522,060
NR   1,510   Middlesex Cnty. Impvt. Auth., Pub. Impvts. Hotel Occupancy Tax RB, Heldrich Associates          
           LLC Proj., Ser. B, 6.25%, 1/01/37   01/15 @ 100     1,559,226
                  11,178,546
        New York—10.3%          
NR   725   Albany Indl. Dev. Agcy., Sch. Impvts. Lease Appropriation RB, New Covenant Charter          
           Sch. Proj., Ser. A, 7.00%, 5/01/35   05/15 @ 102     712,631
        Dorm. Auth., Univ. & Coll. Impvts. RB,          
AAA   2,030 3    Univ. of Rochester Proj., Ser. A, Zero Coupon, 7/01/10, MBIA   N/A     1,798,418
AAA   1,865 3    Univ. of Rochester Proj., Ser. A, Zero Coupon, 7/01/10, MBIA   N/A     1,652,241
        Hudson Yards Infrastructure Corp., Trans. Impvts. Misc. RB,          
AAA   1,065      Ser. A, 4.50%, 2/15/47, MBIA   02/17 @ 100     1,050,186
A   1,575      Ser. A, 5.00%, 2/15/47   02/17 @ 100     1,643,717
AA-   12,400   Liberty Dev. Corp., Indl. Impvts. Misc. RB, Goldman Sachs Group, Inc. Proj., 5.25%,          
           10/01/35   No Opt. Call     14,195,272
B   2,600   New York City Indl. Dev. Agcy., Port, Arpt. & Marina Impvts. RB, American Airlines,          
           Inc./JFK Intl. Arpt. Proj., 7.625%, 8/01/25, AMT   08/16 @ 101     3,172,780
AA+   2,500   New York City Mun. Wtr. Fin. Auth., Wtr. Util. Impvts. Wtr. RB, Ser. D, 5.00%, 6/15/38   06/16 @ 100     2,623,850
                  26,849,095
        North Carolina—4.7%          
AAA   5,000   Eastn. Mun. Pwr. Agcy., Elec., Pwr. & Lt. RB, Ser. B, 7.00%, 1/01/08, CAPMAC   No Opt. Call     5,143,500
NR5   2,425   Gaston Cnty. Indl. Facs. & Poll. Control Fing. Auth., Indl. Impvts. RB, 5.75%, 8/01/35,          
           AMT   08/15 @ 100     2,592,567

3



BlackRock Investment Quality Municipal Trust (BKN) (continued)
(Percentage of Net Assets)

      Principal                    
    Amount       Option Call      
Rating1   (000)   Description   Provisions2     Value
        North Carolina—(cont'd)          
AA-   $      4,315   Med. Care Comm., Hlth., Hosp. & Nursing Home RB, Novant Hlth. Oblig. Grp. Proj.,          
           5.00%, 11/01/39   11/16 @ 100  
$
4,490,405
                  12,226,472
        Ohio—7.8%          
AAA   10,475   Air Qual. Dev. Auth., Rec. Recovery RB, Dayton Pwr. & Lt. Co. Proj., 4.80%, 1/01/34,          
           FGIC   07/15 @ 100     10,666,273
AAA   245 6 Cleveland-Cuyahoga Cnty. Port Auth., Port, Arpt. & Marina RB, Oglebay Norton Co. Proj.,          
           6.00%, 3/01/07, AMT   ETM     245,363
        Cnty. of Cuyahoga, Hlth., Hosp. & Nursing Home RB, Cleveland Clinic Hlth. Sys. Proj.,          
AA-   3,485      6.00%, 1/01/20   07/13 @ 100     3,853,051
AA-   5,000      6.00%, 1/01/21   07/13 @ 100     5,522,150
                  20,286,837
        Oklahoma—1.3%          
B   2,900   Tulsa Mun. Arpt. Trust, Port, Arpt. & Marina Impvts. RB, Ser. A, 7.75%, 6/01/35, AMT   No Opt. Call     3,458,047
        Pennsylvania—5.2%          
AAA   2,000   Delaware River Port. Auth., Port, Arpt. & Marina RB, Port Dist. Proj., Ser. B, 5.70%,          
           1/01/22, FSA   01/10 @ 100     2,097,260
        Econ. Dev. Fing. Auth.,          
BB-   6,380      Elec., Pwr. & Lt. Impvts. RB, Reliant Energy Conv. Proj., Ser. A, 6.75%, 12/01/36, AMT   06/11 @ 103     7,034,078
A3   2,000      Trans. Impvts. Lease Renewal RB, Amtrak Proj., Ser. A, 6.25%, 11/01/31, AMT   05/11 @ 101     2,136,000
A3   3,100      Trans. Impvts. Lease Renewal RB, Amtrak Proj., Ser. A, 6.375%, 11/01/41, AMT   05/11 @ 101     3,310,149
        McKeesport Area Sch. Dist., Ad Valorem Ppty. Tax GO,          
AAA   870 6    Zero Coupon, 10/01/31, FGIC   ETM     289,562
AAA   2,435      Zero Coupon, 10/01/31, FGIC   No Opt. Call     796,878
                  13,566,667
        Puerto Rico—1.7%          
BBB   4,170   Comnwlth., Ad Valorem Ppty. Tax GO, Ser. B, 5.00%, 7/01/35   07/16 @ 100     4,351,228
        Rhode Island—0.8%          
        Hlth. & Edl. Bldg. Corp., Hlth., Hosp. & Nursing Home Impvts. RB, Lifespan Proj.,          
AAA   1,800 3    5.50%, 5/15/07, MBIA   N/A     1,844,928
AAA   200      5.50%, 5/15/16, MBIA   05/07 @ 102     204,832
                  2,049,760
        South Carolina—4.7%          
AAA   5,000   Hsg. Fin. & Dev. Auth., Hsg. RB, Ser. A2, 5.15%, 7/01/37, AMBAC, AMT   07/15 @ 100     5,157,150
        Jobs-Econ. Dev. Auth., Hlth., Hosp. & Nursing Home RB, Palmetto Hlth. Alliance Proj.,          
BBB+   2,185      Ser. A, 6.25%, 8/01/31   08/13 @ 100     2,433,544
BBB+   3,560 3    6.875%, 8/01/13   N/A     4,169,614
BBB+   440 3    6.875%, 8/01/13   N/A     512,600
                  12,272,908
        Tennessee—2.0%          
AAA   4,865   Memphis-Shelby Cnty. Arpt. Auth., Port, Arpt. & Marina Impvts. RB, Ser. D, 6.00%,          
           3/01/24, AMBAC, AMT   03/10 @ 101     5,165,657
        Texas—14.2%          
BBB   1,350   Alliance Arpt. Auth., Indl. RB, FedEx Corp. Proj., 4.85%, 4/01/21, AMT   04/16 @ 100     1,364,553
AAA   6,000 3 Grapevine, Pub. Impvts. Ad Valorem Ppty. Tax GO, 5.875%, 8/15/10, FGIC   N/A     6,414,660
AAA   5,000   Harris Cnty.-Houston Sports Auth., Hotel Occupancy Tax RB, Ser. A, Zero Coupon,          
           11/15/38, MBIA   11/30 @ 61.166     996,200
AAA   2,480   Hlth. Care Facs. Auth., Hlth., Hosp. & Nursing Home RB, Providence Hlth. Care Svcs.          
           Proj., 4.50%, 10/01/35, FGIC   10/16 @ 100     2,413,610
AAA   9,495   La Joya Indpt. Sch. Dist., Sch. Impvts. Ad Valorem Ppty. Tax GO, 5.00%, 2/15/34, PSF   02/14 @ 100     9,865,590
        Lower Colorado River Auth., Misc. RB,          
AAA   3,845      4.75%, 5/15/36, AMBAC   05/11 @ 100     3,880,374
AAA   5 3    Ser. A, 5.00%, 5/15/13, MBIA   N/A     5,332
AAA   945      Ser. A, 5.00%, 5/15/31, MBIA   05/13 @ 100     979,993
AAA   675   Montgomery Cnty. Mun. Util. Dist. No. 46, Pub. Impvts. Ad Valorem Ppty. Tax GO,          
           4.75%, 3/01/30, MBIA   03/14 @ 100     683,890
AAA   2,010   Pearland, Ad Valorem Ppty. Tax GO, 4.75%, 3/01/29, FGIC   03/16 @ 100     2,054,582
AA+   1,000   Texas, Wtr. Fin. Asst., Wtr. Util. Impvts. GO, 5.75%, 8/01/22   08/10 @ 100     1,058,970

4



BlackRock Investment Quality Municipal Trust (BKN) (continued)
(Percentage of Net Assets)

      Principal                    
    Amount       Option Call      
Rating1   (000)   Description   Provisions2     Value
        Texas—(cont'd)          
        Tpke. Auth., Hwy. Impvt. Tolls RB,          
AAA   $      15,000      Zero Coupon, 8/15/31, AMBAC    08/12 @ 32.807   $ 3,816,900
AAA   3,325      Ser. A, 5.00%, 8/15/42, AMBAC   08/12 @ 100     3,437,784
                  36,972,438
        Utah—0.7%          
AAA   1,950 6 Intermountain Pwr. Agcy., Elec., Pwr. & Lt. RB, 5.00%, 7/01/13, AMBAC   ETM     1,951,930
        Virginia—0.7%          
BBB-   1,750   Henrico Cnty. Econ. Dev. Auth., Econ. Dev. RB, Westminster Canterbury Mgt. Proj.,          
           5.00%, 10/01/35   10/11 @ 103     1,778,052
        Washington—1.9%          
AAA   1,420   Cnty. of King, Swr. RB, 5.00%, 1/01/36, FSA   01/16 @ 100     1,491,852
AAA   3,480   Hlth. Care Facs. Auth., Hlth., Hosp. & Nursing Home RB, Providence Hlth. Care Svcs.          
           Proj., Ser. A, 4.625%, 10/01/34, FGIC   10/16 @ 100     3,444,922
                  4,936,774
        Wisconsin—1.4%          
A-   3,220   Hlth. & Edl. Facs. Auth., Hlth., Hosp. & Nursing Home Impvts. RB, Aurora Hlth. Care          
           Proj., 6.40%, 4/15/33   04/13 @ 100     3,568,726
        Total Long-Term Investments (cost $378,361,731)         401,210,882
        SHORT-TERM INVESTMENTS—0.9%          
        Nebraska—0.3%          
A-1+   796 7 American Pub. Energy Agcy., Natural Gas Util. Impvts. Natural Gas RB, Ser. A, 3.63%,          
           2/01/07, FRWD   N/A     796,000
        Ohio—0.4%          
A-1+   1,000 7 Kent St. Univ., Univ. & Coll. Impvts. RB, 3.48%, 2/07/07, MBIA, FRWD   N/A     1,000,000
    Shares              
     (000)              
        Money Market Fund—0.2%          
NR   550   AIM Tax Free Cash Reserve Portfolio - Institutional Class   N/A     550,000
        Total Short-Term Investments (cost $2,346,000)         2,346,000
        Total Investments —155.0% (cost $380,707,7318)   $ 403,556,882
        Other assets in excess of liabilities —1.3%         3,446,105
        Preferred shares at redemption value, including dividends payable —(56.3)%         (146,605,659)
 
        Net Assets Applicable to Common Shareholders—100%      
$
260,397,328

 
1     

Using the highest of Standard & Poor's, Moody's Investors Service or Fitch's Ratings.

 
2     

Date (month/year) and price of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.

 
3     

This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as 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 January 31, 2007, the Trust held 6.6% of its net assets, with a current market value of $17,190,849, in securities restricted as to resale.

 
5     

Security is deemed to be of investment grade quality by the investment adviser.

 
6     

Security is collateralized by Municipal or U.S. Treasury obligations.

 
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 is rate as of January 31, 2007.

 
8     

Cost for federal income tax purposes is $380,153,431. The net unrealized appreciation on a tax basis is $23,403,451, consisting of $23,798,662 gross unrealized appreciation and $395,211 gross unrealized depreciation.

 

5



BlackRock Investment Quality Municipal Trust (BKN) (continued)
(Percentage of Net Assets)

KEY TO ABBREVIATIONS
       
AMBAC — American Municipal Bond Assurance Corp. GO — General Obligation
AMT — Subject to Alternative Minimum Tax MBIA — Municipal Bond Insurance Assoc.
CAPMAC — Capital Markets Assurance Co. PSF — Public School Fund Guaranteed
CIFG-TCRS  — CDC IXIS Financial Guaranty RB — Revenue Bond
ETM — Escrowed to Maturity SA — Special Assessment
FGIC — Financial Guaranty Insurance Co. SO — Special Obligation
FRWD — Floating Rate Weekly Demand TA — Tax Allocation
FSA — Financial Security Assurance XLCA — XL Capital Assurance

6


Item 2. Controls and Procedures.

(a) The Registrant's principal executive and principal financial officers have evaluated the Registrant's disclosure controls and procedures within 90 days of this filing and have concluded, as of that date, that the Registrant’s disclosure controls and procedures were reasonably designed to ensure that information required to be disclosed by the Registrant in this Form N-Q was recorded, processed, summarized, and reported within the required time periods and that information to be disclosed by the Registrant in this Form N-Q was accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a -3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications of the Registrant’s Principal Executive and Financial Officers pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached as EX-99.CERT.


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.

(Registrant)  BlackRock Investment Quality Municipal Trust, Inc.

By: /s/ Donald C. Burke                                       
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: March 28, 2007

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: President and Principal Executive Officer
Date: March 28, 2007

By: /s/ Donald C. Burke                                       
Name: Donald C. Burke
Title: Treasurer and Principal Financial Officer
Date: March 28, 2007