<SEC-DOCUMENT>0001193125-23-277270.txt : 20231115
<SEC-HEADER>0001193125-23-277270.hdr.sgml : 20231115
<ACCEPTANCE-DATETIME>20231114185936
ACCESSION NUMBER:		0001193125-23-277270
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231115
DATE AS OF CHANGE:		20231114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC.
		CENTRAL INDEX KEY:			0000894242
		IRS NUMBER:				133690436
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-263021
		FILM NUMBER:		231408535

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.
		DATE OF NAME CHANGE:	20220525

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC.
		DATE OF NAME CHANGE:	20180130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC.
		DATE OF NAME CHANGE:	20121009
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>d462840d424b3.htm
<DESCRIPTION>BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC.
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<TITLE>BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC.</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed Pursuant to Rule 424(b)(3)<BR>Registration File No.: 333-263021 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST, INC. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Supplement dated November&nbsp;14, 2023 to the Prospectus, dated June&nbsp;6, 2022, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>as supplemented to date </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This supplement
amends certain information in the Prospectus dated June&nbsp;6, 2022, as supplemented to date, of BlackRock Investment Quality Municipal Trust, Inc. (the &#147;Fund&#148;). Unless otherwise indicated, all other information included in the Prospectus
that is not inconsistent with the information set forth in this supplement remains unchanged. Capitalized terms not otherwise defined in this supplement have the same meanings as in the Prospectus. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The following changes are made to the Fund&#146;s Prospectus: </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The section of the Prospectus entitled &#147;Prospectus Summary&#151;Distributions&#148; is deleted in its entirety and replaced with the
following</B><I>:</I><B> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Distributions </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Fund intends to make regular monthly cash distributions of all or a portion of its net investment income, after payment of dividends on
the Fund&#146;s VMTP Shares outstanding, to holders of the Fund&#146;s common stock (stated in terms of a fixed cents per common share dividend distribution rate). In addition, in any monthly period, in order to maintain its declared distribution
amount, the Fund may pay out more or less than the entire amount of net investment income earned in any particular month. In the event the Fund distributes more than its net investment income during any yearly period, such distributions may also
come from sources other than net income, including a return of capital. Net capital gains, if any, will be distributed at least annually to holders of the Fund&#146;s common stock. The Fund&#146;s net investment income consists of all interest
income accrued on portfolio assets less all expenses of the Fund. The Fund is required to allocate net capital gains and other taxable income, if any, received by the Fund among its shareholders on a pro rata basis in the year for which such capital
gains and other income is realized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A return of capital distribution may involve a return of the shareholder&#146;s original investment.
<B>Though not currently taxable, such a distribution may lower a shareholder&#146;s basis in the Fund, thus potentially subjecting the shareholder to future tax consequences in connection with the sale of Fund common shares, even if sold at a loss
to the shareholder&#146;s original investment. </B>Shareholders should not draw any conclusions about the Fund&#146;s investment performance from the amount of the Fund&#146;s distributions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Various factors will affect the level of the Fund&#146;s net investment income, such as its asset mix, portfolio turnover, performance of its
investments, level of retained earnings, the amount of leverage utilized by the Fund and the effects thereof, the costs of such leverage, the movement of interest rates for municipal bonds and general market conditions. To permit the Fund to
maintain more stable monthly distributions and to the extent consistent with the distribution requirements imposed on regulated investment companies by the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;), the Fund may from time to
time distribute more or less than the entire amount earned in a particular period. Undistributed earnings will increase the Fund&#146;s NAV and, correspondingly, distributions from undistributed earnings and from capital, if any, will reduce the
NAV. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Shareholders will automatically have all dividends and distributions reinvested in common shares of the Fund in accordance with the
Fund&#146;s dividend reinvestment plan, unless an election is made to receive cash by contacting the Reinvestment Plan Agent (as defined herein), at (800) <FONT STYLE="white-space:nowrap">699-1236.</FONT> See &#147;Dividend Reinvestment Plan.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Fund reserves the right to change its distribution policy and the basis for establishing the rate of its monthly distributions at any
time and may do so without prior notice to common shareholders. See &#147;Distributions.&#148; </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The section of the Prospectus entitled &#147;Distributions&#148; is deleted in its entirety and replaced with
the following</B><I>:</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Fund intends to make regular monthly cash distributions of all or a portion of its net investment
income,&nbsp;after payment of dividends on the Fund&#146;s VMTP Shares outstanding, to holders of the Fund&#146;s common shares (stated in terms of a fixed cents per common share dividend distribution rate). In addition, in any monthly period, in
order to maintain its declared distribution amount, the Fund may pay out more or less than the entire amount of net investment income earned in any particular month. In the event the Fund distributes more than its net investment income during any
yearly period, such distributions may also come from sources other than net income, including a return of capital. Net capital gains, if any, will be distributed at least annually to holders of the Fund&#146;s common shares. The Fund&#146;s net
investment income consists of all interest income accrued on portfolio assets less all expenses of the Fund. The Fund is required to allocate net capital gains and other taxable income, if any, received by the Fund among its shareholders on a pro
rata basis in the year for which such capital gains and other income is realized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A return of capital distribution may involve a return
of the shareholder&#146;s original investment. <B>Though not currently taxable, such a distribution may lower a shareholder&#146;s basis in the Fund, thus potentially subjecting the shareholder to future tax consequences in connection with the sale
of Fund shares, even if sold at a loss to the shareholder&#146;s original investment. </B>Shareholders should not draw any conclusions about the Fund&#146;s investment performance from the amount of the Fund&#146;s distributions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The tax treatment and characterization of the Fund&#146;s distributions may vary significantly from time to time because of the varied nature
of the Fund&#146;s investments. The ultimate tax characterization of the Fund&#146;s distributions made in a fiscal year cannot finally be determined until after the end of that fiscal year. As a result, there is a possibility that the Fund may make
total distributions during a fiscal year in an amount that exceeds the Fund&#146;s earnings and profits for U.S. federal income tax purposes. In such situations, the amount by which the Fund&#146;s total distributions exceed earnings and profits
would generally be treated as a return of capital reducing the amount of a shareholder&#146;s tax basis in such shareholder&#146;s shares, with any amounts exceeding such basis treated as gain from the sale of shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Various factors will affect the level of the Fund&#146;s net investment income, such as its asset mix, portfolio turnover, performance of its
investments, level of retained earnings, the amount of leverage utilized by the Fund and the effects thereof, the costs of such leverage, the movement of interest rates for municipal bonds and general market conditions. To permit the Fund to
maintain more stable monthly distributions and to the extent consistent with the distribution requirements imposed on regulated investment companies by the Code, the Fund may from time to time distribute more or less than the entire amount earned in
a particular period. Undistributed earnings will increase the Fund&#146;s NAV and, correspondingly, distributions from undistributed earnings and from capital, if any, will reduce the Fund&#146;s NAV. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Shareholders will automatically have all dividends and distributions reinvested in common shares of the Fund in accordance with the
Fund&#146;s dividend reinvestment plan, unless an election is made to receive cash by contacting the Reinvestment Plan Agent (as defined herein), at <FONT STYLE="white-space:nowrap">(800)&nbsp;699-1236.&nbsp;See</FONT> &#147;Dividend Reinvestment
Plan.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Fund reserves the right to change its distribution policy and the basis for establishing the rate of its monthly
distributions at any time and may do so without prior notice to common shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Investors should retain this supplement for future
reference. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">PRO-BKN-1123SUP</FONT></FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- 2 - </P>

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