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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

Name of Fund: BlackRock Investment Quality Municipal Trust, Inc. (BKN)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock Investment Quality Municipal Trust, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

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

Date of fiscal year end: 10/31/2009

Date of reporting period: 11/01/2008 – 01/31/2009

Item 1 – Schedule of Investments

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
State Municipal Bonds   (000 )   Value
Arizona - 5.3% Glendale, Arizona, Municipal Property Corporation, Excise Tax Revenue          
  Refunding Bonds, Series A, 4.50%, 7/01/32 (a) $ 1,150   $ 1,034,482
  Goodyear, Arizona, GO, 4.25%, 7/01/36 (a)   2,125     1,793,415
 
McAllister Academic Village, LLC, Arizona, Revenue Refunding Bonds
          
  (Arizona State University - Hassayampa Academic Village Project), 5%,          
  7/01/38   2,000     1,827,820
  Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds,          
  5%, 12/01/32   1,035     690,459
  Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds,          
  5%, 12/01/37   4,585     2,975,069
 
San Luis, Arizona, Facilities Development Corporation, Senior Lien
          
  Revenue Bonds (Regional Detention Center Project), 6.25%, 5/01/15   490     417,338
 
San Luis, Arizona, Facilities Development Corporation, Senior Lien
          
  Revenue Bonds (Regional Detention Center Project), 7%, 5/01/20   490     400,482
 
San Luis, Arizona, Facilities Development Corporation, Senior Lien
          
  Revenue Bonds (Regional Detention Center Project), 7.25%, 5/01/27   980     772,720
            9,911,785
California - 20.7% California County Tobacco Securitization Agency, Tobacco Revenue          
  Bonds (Stanislaus County Tobacco Funding Corporation), Sub-Series C,          
  6.299%, 6/01/55 (b)   7,090     40,058
  California State Department of Veteran Affairs, Home Purchase          
  Revenue Bonds, AMT, Series B, 5.25%, 12/01/37   5,000     3,880,950
  California State, GO, 5%, 3/01/33 (c)   5,000     4,544,300
  California State, GO, Refunding, 5.625%, 5/01/18   290     304,477
  California State, GO, Refunding, 5%, 2/01/32   5,800     5,310,306
  California State, GO, Refunding, 5%, 6/01/32   4,545     4,156,539
  Foothill/Eastern Corridor Agency, California, Toll Road Revenue          
  Refunding Bonds, 5.791%, 7/15/28 (d)   7,000     5,990,950
  Foothill/Eastern Corridor Agency, California, Toll Road Revenue          
  Refunding Bonds, 5.75%, 1/15/40   3,495     2,607,934
  Golden State Tobacco Securitization Corporation of California, Tobacco          
  Settlement Revenue Refunding Bonds, Senior Series A-1, 5.125%,          
  6/01/47   805     430,675
 
Los Altos, California, School District, GO (Election of 1998), Series B,
          
  5.93%, 8/01/13 (b)(e)(f)   10,945     5,390,850
             
Portfolio Abbreviations            

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and
descriptions of many of the securities have been abbreviated according to the list below.
AMT   Alternative Minimum Tax (subject to)   HFA   Housing Finance Agency
EDA   Economic Development Authority   IDA   Industrial Development Authority
EDR   Economic Development Revenue Bonds   PILOT   Payment in Lieu of Taxes
GO   General Obligation Bonds   S/F   Single-Family

1

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
 
  Par      
State
Municipal Bonds
  (000 )   Value
 
Sacramento County, California, Airport System Revenue Bonds, AMT,
          
 
Senior Series A, 5%, 7/01/41 (a)
$ 2,000   $ 1,863,660
 
University of California Revenue Bonds, Series B, 4.75%, 5/15/38
  4,185     3,741,055
 
 
         38,261,754
Colorado -1.3%
Colorado Health Facilities Authority, Revenue Refunding Bonds (Poudre
         
 
Valley Health Care), Series B, 5.25%, 3/01/36 (a)
  1,750     1,518,685
 
Colorado Springs, Colorado, Utilities System Improvement Revenue
          
 
Bonds, Subordinate Lien, Series C, 5%, 11/15/45 (a)
  1,030     952,039
 
 
         2,470,724
Connecticut - 2.3%
Connecticut State Health and Educational Facilities Authority Revenue
         
 
Bonds (Quinnipiac University), Series J, 5%, 7/01/37 (e)
  2,500     2,297,750
 
Mashantucket Western Pequot Tribe, Connecticut, Special Revenue
          
 
Refunding Bonds, Sub-Series A, 5.50%, 9/01/28
  3,000     1,892,820
 
 
         4,190,570
District of Columbia - 1.8%
District of Columbia Tobacco Settlement Financing Corporation, Asset-
         
 
Backed Revenue Refunding Bonds, 6.50%, 5/15/33
  4,960     3,388,573
Florida - 15.1%
FishHawk Community Development District II, Florida, Special
         
 
Assessment and Tax Allocation Bonds, Series A, 6.125%, 5/01/34
  2,020     1,530,938
 
Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds
          
 
(National Gypsum Company), AMT, Series A,
         
 
7.125%, 4/01/30
  3,700     2,018,054
 
Miami Beach, Florida, Health Facilities Authority, Hospital Revenue
          
 
Refunding Bonds (Mount Sinai Medical Center of Florida), 6.75%,
         
 
11/15/21
  3,770     2,862,297
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.189%, 10/01/31 (b)(e)
  3,380     690,534
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.199%, 10/01/32 (b)(e)
  4,225     797,807
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.209%, 10/01/33 (b)(e)
  4,000     699,280
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.209%, 10/01/34 (b)(e)
  4,580     740,494
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.219%, 10/01/35 (b)(e)
  5,000     751,250
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.229%, 10/01/36 (b)(e)
  10,000     1,396,400
 
Miami-Dade County, Florida, Special Obligation Revenue Bonds, Sub-
          
 
Series A, 5.239%, 10/01/37 (b)(e)
  10,000     1,297,300
 
Orange County, Florida, Tourist Development, Tax Revenue Refunding
         
 
Bonds, 4.75%, 10/01/32 (g)
  7,895     6,483,137
 
Sumter Landing Community Development District, Florida, Recreational
         
 
Revenue Bonds, Sub-Series B, 5.70%, 10/01/38
  3,685     2,237,606
 
Village Community Development District Number 5, Florida, Special
          
 
Assessment Bonds, 5.625%, 5/01/22
  7,740     6,402,683
 
 
         27,907,780

2

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
      Par      
State Municipal Bonds   (000 )   Value
Georgia - 3.1% Atlanta, Georgia, Water and Wastewater Revenue Bonds, 5%,          
  11/01/34 (a) $ 4,000   $ 3,716,600
 
Main Street Natural Gas, Inc., Georgia, Gas Project Revenue Bonds,
          
  Series A, 6.375%, 7/15/38 (h)(i)   1,000     197,490
  Milledgeville-Baldwin County, Georgia, Development Authority Revenue          
  Bonds (Georgia College and State University Foundation),          
  6%, 9/01/14 (f)   1,500     1,850,175
            5,764,265
Hawaii - 1.3% Hawaii State Department of Budget and Finance, Special Purpose          
 
Revenue Refunding Bonds (Hawaiian Electric Company, Inc.), AMT,
          
  Series D, 6.15%, 1/01/20 (j)   2,500     2,296,550
Idaho - 2.0% Idaho HFA, Grant and Revenue Anticipation Bonds (Federal Highway          
  Trust Fund), Series A, 5%, 7/15/27   1,200     1,202,880
 
Idaho Health Facilities Authority, Revenue Refunding Bonds (Trinity
          
  Health Group), Series B, 6.25%, 12/01/33   2,500     2,516,525
            3,719,405
Illinois - 13.7% Bolingbrook, Illinois, GO, Refunding, Series A, 4.75%, 1/01/38 (e)   6,500     5,314,205
  CenterPoint Intermodal Center Program Trust, Illinois, Tax Allocation          
  Bonds, Class A, 8%, 6/15/23 (k)   1,920     1,476,384
  Chicago, Illinois, O'Hare International Airport Revenue Refunding Bonds,          
  Third Lien, AMT, Series C-2, 5.25%, 1/01/30 (a)   3,540     3,012,505
  Chicago, Illinois, Public Building Commission, Building Revenue Bonds,          
  Series A, 7%, 1/01/20 (e)(l)   5,000     6,460,350
  Illinois Municipal Electric Agency, Power Supply Revenue Bonds, 4.50%,          
  2/01/35 (e)(m)   1,145     957,128
 
Illinois State Finance Authority Revenue Bonds (Friendship Village of
          
  Schaumburg), Series A, 5.625%, 2/15/37   690     378,099
  Illinois State Finance Authority Revenue Bonds (Monarch Landing, Inc.          
  Project), Series A, 7%, 12/01/37   1,155     771,528
  Illinois State Finance Authority Revenue Bonds (Northwestern Memorial          
  Hospital), Series A, 5.50%, 8/15/14 (f)   5,800     6,941,556
  Illinois State Finance Authority, Student Housing Revenue Bonds (MJH          
  Education Assistance IV LLC), Sub-Series B, 5.375%, 6/01/35 (h)(i)   700     68,950
            25,380,705
Kentucky - 4.4% Kentucky Economic Development Finance Authority, Health System          
  Revenue Refunding Bonds (Norton Healthcare, Inc.), Series B, 6.188%,          
  10/01/23 (b)(e)   13,500     5,206,275
  Kentucky Economic Development Financing Authority, Louisville Arena          
  Project Revenue Bonds (Louisville Arena Authority, Inc.),          
  Sub-Series A-1, 6%, 12/01/38 (n)   700     696,080
 
Louisville and Jefferson County, Kentucky, Metropolitan Government
          
  Health Facilities, Revenue Refunding Bonds (Jewish Hospital and Saint          
  Mary's HealthCare), 6.125%, 2/01/37   2,250     2,198,497
            8,100,852

3

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
 
  Par      
State
Municipal Bonds
  (000 )   Value
Maryland - 3.2%
Maryland State Community Development Administration, Department of
         
 
Housing and Community Development, Residential Revenue Refunding
         
 
Bonds, AMT, Series A, 4.80%, 9/01/42
$ 3,000   $ 2,336,850
 
Maryland State Health and Higher Educational Facilities Authority
          
 
Revenue Bonds (Anne Arundel Health System), Series A, 6.75%, 7/01/39
  1,500     1,496,040
 
Maryland State Health and Higher Educational Facilities Authority,
          
 
Mortgage Revenue Refunding Bonds (Western Maryland Health System),
         
 
4.375%, 7/01/36 (e)(o)
  750     582,202
 
Maryland State Health and Higher Educational Facilities Authority,
          
 
Revenue Refunding Bonds (MedStar Health, Inc.), 5.50%, 8/15/33
  1,740     1,516,462
 
 
         5,931,554
Michigan - 3.8%
Michigan State Building Authority, Revenue Refunding Bonds (Facilities
         
 
Program), Series I, 6.25%, 10/15/38
  1,875     1,959,694
 
Michigan State Hospital Finance Authority, Revenue Refunding Bonds
          
 
(Henry Ford Health System), Series A, 5.25%, 11/15/46
  1,670     1,084,632
 
Royal Oak, Michigan, Hospital Finance Authority, Hospital Revenue
          
 
Refunding Bonds (William Beaumont Hospital), 8.25%, 9/01/39
  4,000     4,087,040
 
 
         7,131,366
Minnesota - 2.0%
Minneapolis, Minnesota, Health Care System, Revenue Refunding Bonds
         
 
(Fairview Health Services), Series B, 6.50%, 11/15/38 (n)
  3,500     3,696,770
Missouri - 5.3%
Missouri Joint Municipal Electric Utility Commission, Power Project
         
 
Revenue Bonds (Plum Point Project), 4.60%, 1/01/36 (e)
  2,820     1,861,736
 
Missouri State Health and Educational Facilities Authority, Health
          
 
Facilities Revenue Bonds (Saint Luke's Health System), Series A, 5.50%,
         
 
11/15/35
  3,750     3,459,150
 
Missouri State Housing Development Commission, S/F Mortgage Revenue
         
 
Refunding Bonds (Homeownership Loan Program), AMT, Series B-1,
          
 
5.05%, 3/01/38 (p)(q)(r)
  4,955     4,583,177
 
 
         9,904,063
Multi State - 5.6%
Charter Mac Equity Issuer Trust, 7.60%, 11/30/50 (k)(s)
  7,000     7,377,160
 
MuniMae TE Bond Subsidiary LLC, 7.75%, 6/30/50 (k)(s)
  4,000     3,059,360
 
 
         10,436,520
Nebraska - 2.7%
Omaha Public Power District, Nebraska, Electric System Revenue Bonds,
         
 
Series A, 5%, 2/01/34
  2,500     2,420,300
 
Omaha Public Power District, Nebraska, Electric System Revenue Bonds,
         
 
Series A, 4.75%, 2/01/44
  2,765     2,499,726
 
 
         4,920,026
Nevada - 1.0%
Clark County, Nevada, EDR, Refunding (Alexander Dawson School of
         
 
Nevada Project), 5%, 5/15/29
  2,065     1,800,288
New Jersey - 4.0%
Middlesex County, New Jersey, Improvement Authority, Subordinate
         
 
Revenue Bonds (Heldrich Center Hotel/Conference Project),
         
 
Series B, 6.25%, 1/01/37
  1,510     852,380
 
New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/29
  7,000     5,209,330
 
New Jersey State Housing and Mortgage Finance Agency Revenue Bonds,
         
 
Series AA, 6.50%, 10/01/38
  1,250     1,318,675
 
 
         7,380,385

4

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
 
  Par      
State
Municipal Bonds
  (000 )   Value
New York - 12.6%
Albany, New York, IDA, Civic Facility Revenue Bonds (New Covenant
         
 
Charter School Project), Series A, 7%, 5/01/35
$ 725   $ 449,935
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds,
          
 
Series A, 5%, 2/15/47 (m)
  1,400     1,065,274
 
Long Island Power Authority, New York, Electric System Revenue
         
 
Refunding Bonds, Series A, 6.25%, 4/01/33
  480     497,717
 
Metropolitan Transportation Authority, New York, Revenue Refunding
         
 
Bonds, Series A, 5%, 11/15/25 (e)(m)
  750     747,413
 
New York City, New York, City IDA, PILOT Revenue Bonds (Queens
          
 
Baseball Stadium Project), 6.50%, 1/01/46 (n)
  1,100     1,115,972
 
New York City, New York, City IDA, Special Facility Revenue Bonds
          
 
(American Airlines, Inc. - JFK International Airport), AMT, 7.625%,
          
 
8/01/25
  2,600     1,844,700
 
New York City, New York, City Municipal Water Finance Authority,
          
 
Water and Sewer System Revenue Bonds, Series A, 5.75%, 6/15/40
  700     735,175
 
New York City, New York, City Transitional Finance Authority, Building
         
 
Aid Revenue Bonds, Series S-1, 5%, 7/15/24 (e)(m)
  2,000     2,024,700
 
New York City, New York, GO, Series A-1, 4.75%, 8/15/25
  1,000     944,940
 
New York Liberty Development Corporation Revenue Bonds (Goldman
         
 
Sachs Headquarters), 5.25%, 10/01/35
  4,100     3,296,605
 
New York State Dormitory Authority, Non-State Supported Debt
         
 
Revenue Bonds (Rochester Institute of Technology), Series A, 6%,
          
 
7/01/33
  1,625     1,667,201
 
New York State Dormitory Authority, Revenue Refunding Bonds
         
 
(University of Rochester), Series A, 6.715%, 7/01/10 (d)(e)(f)
  1,865     1,847,749
 
New York State Dormitory Authority, Revenue Refunding Bonds
         
 
(University of Rochester), Series A, 6.765%, 7/01/10 (d)(e)(f)
  2,030     2,011,223
 
New York State Dormitory Authority, State Personal Income Tax
         
 
Revenue Bonds (Education), Series B, 5.25%, 3/15/38
  4,250     4,224,627
 
Port Authority of New York and New Jersey, Consolidated Revenue
          
 
Refunding Bonds, AMT, 152nd Series, 5.75%, 11/01/30
  1,000     958,040
 
 
         23,431,271
North Carolina - 2.1%
Gaston County, North Carolina, Industrial Facilities and Pollution
         
 
Control Financing Authority, Revenue Bonds (National Gypsum Company
         
 
Project), AMT, 5.75%, 8/01/35
  2,425     1,266,699
 
North Carolina Medical Care Commission, Health Care Facilities,
         
 
Revenue Refunding Bonds (University Health System), Series D, 6.25%,
         
 
12/01/33
  2,500     2,557,050
 
 
         3,823,749
Ohio - 7.2%
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco
         
 
Settlement Asset-Backed Bonds, Series A-2, 6.50%, 6/01/47
  1,870     1,161,251
 
Cuyahoga County, Ohio, Revenue Refunding Bonds, Series A,
         
 
6%, 1/01/20
  3,485     3,642,557
 
Cuyahoga County, Ohio, Revenue Refunding Bonds, Series A,
         
 
6%, 1/01/21
  5,000     5,179,800

5

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
 
    Par      
State
Municipal Bonds
    (000 )   Value
 
Ohio State Air Quality Development Authority, Revenue Refunding
            
 
Bonds (Dayton Power and Light Company Project), Series B, 4.80%,
     
 
1/01/34 (m)(t)
   $ 3,500   $ 3,333,715
 
 
           13,317,323
Oklahoma - 1.9%
Tulsa County, Oklahoma, Home Finance Authority, S/F Mortgage
     
 
Revenue Refunding Bonds, AMT, Series C, 5.25%, 12/01/38 (r)
    1,358     1,120,677
 
Tulsa, Oklahoma, Municipal Airport Trust, Revenue Refunding Bonds,
            
 
Series A, 7.75%, 6/01/35
    2,900     2,443,250
 
 
           3,563,927
Pennsylvania - 6.1%
Delaware River Port Authority of Pennsylvania and New Jersey Revenue
     
 
Bonds (Port District Project), Series B, 5.70%, 1/01/22 (a)
    2,000     2,010,540
 
McKeesport, Pennsylvania, Area School District, GO, Refunding, 5.529%,
     
 
10/01/31 (b)(l)(m)
     870     282,741
 
McKeesport, Pennsylvania, Area School District, GO, Refunding, 5.529%,
     
 
10/01/31 (b)(m)
     2,435     558,126
 
Pennsylvania Economic Development Financing Authority, Exempt
            
 
Facilities Revenue Bonds (Amtrak Project), AMT, Series A, 6.25%,
            
 
11/01/31
    2,000     1,466,460
 
Pennsylvania Economic Development Financing Authority, Exempt
            
 
Facilities Revenue Bonds (Amtrak Project), AMT, Series A,
           
 
6.375%, 11/01/41
    3,100     2,229,954
 
Pennsylvania Economic Development Financing Authority, Exempt
            
 
Facilities Revenue Bonds (Reliant Energy), AMT, Series A, 6.75%,
           
 
12/01/36
    6,380     4,747,167
 
 
           11,294,988
Rhode Island - 0.1%
Rhode Island State Health and Educational Building Corporation,
           
 
Hospital Revenue Refunding Bonds (Lifespan Obligation Group), 5.50%,
     
 
5/15/16 (e)
     200     200,324
South Carolina - 5.9%
South Carolina Housing Finance and Development Authority, Mortgage
     
 
Revenue Refunding Bonds, AMT, Series A-2, 5.15%, 7/01/37 (j)
    4,975     4,219,497
 
South Carolina Jobs EDA, Hospital Facilities Revenue Refunding Bonds
     
 
(Palmetto Health Alliance), Series A, 6.25%, 8/01/31
    2,185     1,911,613
 
South Carolina Jobs EDA, Hospital Facilities Revenue Refunding Bonds
     
 
(Palmetto Health Alliance), Series C, 6.875%, 8/01/13 (f)
    4,000     4,820,802
 
 
           10,951,912
Tennessee - 2.5%
Memphis-Shelby County, Tennessee, Airport Authority, Airport Revenue
     
 
Bonds, AMT, Series D, 6%, 3/01/24 (j)
    4,865     4,575,192
Texas - 12.3%
Grapevine, Texas, GO, 5.875%, 8/15/10 (f)(m)
    6,000     6,466,680
 
Harris County-Houston Sports Authority, Texas, Revenue Refunding
            
 
Bonds, Senior Lien, Series A, 6.17%, 11/15/38 (b)(e)
    5,000     460,200

6

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
 
  Par      
State
Municipal Bonds
  (000 )   Value
 
Harris County, Texas, Health Facilities Development Corporation,
          
 
Hospital Revenue Refunding Bonds (Memorial Hermann Healthcare
          
 
System), Series B, 7.125%, 12/01/31
$ 1,000   $ 1,043,300
 
Harris County, Texas, Health Facilities Development Corporation,
          
 
Hospital Revenue Refunding Bonds (Memorial Hermann Healthcare
          
 
System), Series B, 7.25%, 12/01/35
  2,650     2,766,997
 
Lower Colorado River Authority, Texas, Revenue Refunding Bonds, 5%,
         
 
5/15/13 (e)(f)
  20     22,916
 
Lower Colorado River Authority, Texas, Revenue Refunding Bonds,
          
 
4.75%, 5/15/36 (j)
  3,595     3,041,586
 
Lower Colorado River Authority, Texas, Revenue Refunding Bonds,
          
 
Series A, 5%, 5/15/13 (e)(f)
  5     5,729
 
Montgomery County, Texas, Municipal Utility District Number 46,
          
 
Waterworks and Sewer System, GO, 4.75%, 3/01/30 (e)
  355     322,819
 
San Antonio Energy Acquisition Public Facilities Corporation, Texas, Gas
         
 
Supply Revenue Bonds, 5.50%, 8/01/24
  2,550     1,929,763
 
Texas State Turnpike Authority, Central Texas Turnpike System
         
 
Revenue Bonds, 6.052%, 8/15/31 (b)(j)
  15,000     3,071,850
 
Texas State Turnpike Authority, Central Texas Turnpike System
         
 
Revenue Bonds, First Tier, Series A, 5%, 8/15/42 (j)
  3,325     2,677,789
 
Texas State Water Financial Assistance, GO, Refunding, 5.75%,
         
 
8/01/22
  1,000     1,035,630
 
 
         22,845,259
Virginia - 0.8%
Tobacco Settlement Financing Corporation of Virginia, Revenue
         
 
Refunding Bonds, Senior Series B-1, 5%, 6/01/47
  2,900     1,517,077
Washington - 0.5%
King County, Washington, Sewer Revenue Refunding Bonds, 5%,
         
 
1/01/36 (a)
  1,000     971,150
Wisconsin - 1.4%
Wisconsin State Health and Educational Facilities Authority Revenue
         
 
Bonds (Aurora Health Care, Inc.), 6.40%, 4/15/33
  3,220     2,535,428
Wyoming - 0.9%
Wyoming Community Development Authority, Housing Revenue Bonds,
         
 
AMT, Series 3, 4.75%, 12/01/37
  2,145     1,698,197
Puerto Rico - 4.3%
Puerto Rico Commonwealth Aqueduct and Sewer Authority, Senior Lien
         
 
Revenue Bonds, Series A, 6%, 7/01/38
  2,500     2,184,300
 
Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds,
         
 
Series UU, 5%, 7/01/23 (a)
  2,900     2,883,673
  Puerto Rico Housing Financing Authority, Capital Funding Program,          
 
Subordinate Revenue Refunding Bonds, 5.125%, 12/01/27
  3,000     2,944,710
 
 
         8,012,683
 
Total Municipal Bonds - 157.2%
        291,332,415

7

BlackRock Investment Quality Municipal Trust  
Schedule of Investments January 31, 2009 (Unaudited) (Percentages shown are based on Net Assets)
  Municipal Bonds Transferred to   Par        
State Tender Option Bond Trusts (u)   (000 )      Value  
Colorado - 2.4% Colorado Health Facilities Authority Revenue Bonds (Catholic Health),            
  Series C-7, 5%, 9/01/36 (a) $ 5,250    $ 4,539,728  
Illinois - 1.8% Chicago, Illinois, Housing Authority, Capital Program Revenue Refunding        
  Bonds, 5%, 7/01/24 (a)   3,194     3,249,094  
Massachusetts - 1.6% Massachusetts State Water Resource Authority, General Revenue            
  Refunding Bonds, Series A, 5%, 8/01/41   3,070     2,983,549  
New York - 1.7% New York State Dormitory Authority, Non-State Supported Debt            
  Revenue Bonds (New York University), Series A, 5%, 7/01/38   3,359     3,180,828  
Ohio - 2.1% Montgomery County, Ohio, Revenue Bonds (Catholic Health Initiatives),            
  Series C-1, 5%, 10/01/41 (a)   1,740     1,476,616  
  Ohio State Higher Educational Facilities Commission, Hospital            
  Revenue Bonds (University Hospitals Health System), Series A,            
  5.25%, 1/01/33   2,600     2,403,492  
            3,880,108  
  Total Municipal Bonds Transferred to            
  Tender Option Bond Trusts - 9.6%         17,833,307  
  Total Long-Term Investments            
  (Cost - $352,094,884) - 166.8%         309,165,722  
  Short-Term Securities   Shares        
  Merrill Lynch Institutional Tax-Exempt Fund, 0.60% (v)(w)   8,600,000     8,600,000  
  Total Short-Term Securities            
  (Cost - $8,600,000) - 4.7%         8,600,000  
  Total Investments (Cost - $360,694,884*) - 171.5%         317,765,722  
  Other Assets Less Liabilities - 2.5%         4,685,541  
  Liability for Trust Certificates, Including Interest Expense and            
  Fees Payable - (5.5)%         (10,180,202 )
  Preferred Shares, at Redemption Value - (68.5)%         (126,967,752 )
  Net Assets Applicable to Common Shares - 100.0%       $ 185,303,309  

*     

The cost and unrealized appreciation (depreciation) of investments as of January 31, 2009, as computed for federal income tax purposes, were as follows:
 
Aggregate cost   $   348,128,262  
Gross unrealized appreciation   $   8,434,629  
Gross unrealized depreciation       (48,934,969 )
Net unrealized depreciation   $   (40,500,340 )

(a)     

FSA Insured.
 
(b)     

Represents a zero-coupon bond. Rate shown reflects the effective yield as of report date.
 
(c)     

CIFG Insured.
 
(d)     

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the effective yield as of report date.
 
(e)     

MBIA Insured.
 
(f)     

US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par.
 
(g)     

XL Capital Insured.
 
(h)     

Non-income producing security.
 
(i)     

Issuer filed for bankruptcy and/or is in default of interest payments.
 

8

BlackRock Investment Quality Municipal Trust

Schedule of Investments January 31, 2009 (Unaudited)

(j)     

AMBAC Insured.
 
(k)     

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.
 
(l)     

Security is collateralized by Municipal or US Treasury Obligations.
 
(m)     

FGIC Insured.
 
(n)     

Assured Guaranty Insured.
 
(o)     

FHA Insured.
 
(p)     

FHLMC Collateralized.
 
(q)     

FNMA Collateralized.
 
(r)     

GNMA Collateralized.
 
(s)     

Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to mandatory redemption at maturity.
 
(t)     

BHAC Insured.
 
(u)     

Securities represent bonds transferred to a tender option bond trust in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.
 
(v)     

Represents the current yield as of report date.
 
(w)     

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
 
Affiliate   Net Activity         Income    
Merrill Lynch Institutional Tax-Exempt Fund   (6,800,000 )   $       23,816

Ÿ  

Effective November 1, 2008, the Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of fair value measurements.
 
 

Various inputs are used in determining the fair value of investments, which are as follows:
 
  Ÿ  

Level 1 - price quotations in active markets/exchanges for identical securities
 
  Ÿ

Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks, and default rates) or other market-corroborated inputs)
 
  Ÿ

Level 3 - unobservable inputs based on the best information available in the circumstance, to the extent observable inputs are not available (including the Trust's own assumption used in determining the fair value of investments)
 
 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Trust's policy regarding valuation of investments and other significant accounting policies, please refer to the Trust's most recent financial statements as contained in its annual report.
 

The following table summarizes the inputs used as of January 31, 2009 in determining the fair valuation of the Trust's investments:

Valuation     Investments in
Inputs     Securities
      Assets
Level 1   $ 8,600,000
Level 2     309,165,722
Level 3     -
Total   $ 317,765,722

9

Item 2 – Controls and Procedures

2(a) – The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.
   
2(b) – There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

  Certifications – Attached hereto
     
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
     
  BlackRock Investment Quality Municipal Trust, Inc.
     
  By: /s/ Donald C. Burke  
    Donald C. Burke
    Chief Executive Officer of
    BlackRock Investment Quality Municipal Trust, Inc.
     
  Date: March 25, 2009
     
  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/ Donald C. Burke  
    Donald C. Burke
    Chief Executive Officer (principal executive officer) of
    BlackRock Investment Quality Municipal Trust, Inc.
     
  Date: March 25, 2009
     
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Investment Quality Municipal Trust, Inc.
     
  Date: March 25, 2009