BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Plans Monthly Dividend of $0.06

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) declared a monthly dividend on Friday, November 17th, Wall Street Journal reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.057 per share on Friday, March 1st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date is Wednesday, February 14th.

BlackRock Investment Quality Municipal Trust Price Performance

Shares of NYSE:BKN traded down $0.02 during trading on Friday, reaching $11.03. 108,465 shares of the stock were exchanged, compared to its average volume of 61,294. The stock has a fifty day moving average of $10.26 and a two-hundred day moving average of $10.99. BlackRock Investment Quality Municipal Trust has a 1-year low of $9.57 and a 1-year high of $13.23.

Institutional Investors Weigh In On BlackRock Investment Quality Municipal Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its position in BlackRock Investment Quality Municipal Trust by 15.2% in the 2nd quarter. Royal Bank of Canada now owns 13,643 shares of the company’s stock valued at $159,000 after buying an additional 1,800 shares during the last quarter. HighTower Advisors LLC grew its stake in BlackRock Investment Quality Municipal Trust by 9.9% in the 3rd quarter. HighTower Advisors LLC now owns 22,200 shares of the company’s stock valued at $224,000 after purchasing an additional 2,000 shares during the period. Creative Planning grew its stake in BlackRock Investment Quality Municipal Trust by 7.2% in the 2nd quarter. Creative Planning now owns 32,407 shares of the company’s stock valued at $441,000 after purchasing an additional 2,167 shares during the period. Commonwealth Equity Services LLC grew its stake in BlackRock Investment Quality Municipal Trust by 13.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,141 shares of the company’s stock valued at $239,000 after purchasing an additional 2,317 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in BlackRock Investment Quality Municipal Trust by 11.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 41,032 shares of the company’s stock valued at $590,000 after purchasing an additional 4,105 shares during the period. 19.92% of the stock is owned by hedge funds and other institutional investors.

BlackRock Investment Quality Municipal Trust Company Profile

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.