BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN – Get Rating) announced a monthly dividend on Thursday, December 8th, Wall Street Journal reports. Investors of record on Friday, December 16th will be paid a dividend of 0.0445 per share on Friday, December 30th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Thursday, December 15th.
BlackRock Investment Quality Municipal Trust has increased its dividend payment by an average of 5.5% annually over the last three years.
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BlackRock Investment Quality Municipal Trust Trading Down 0.8 %
Shares of BKN stock opened at $12.34 on Friday. BlackRock Investment Quality Municipal Trust has a 52-week low of $10.75 and a 52-week high of $18.56. The business's fifty day moving average is $11.90 and its 200 day moving average is $13.62.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in BlackRock Investment Quality Municipal Trust by 8.3% in the first quarter. Bank of America Corp DE now owns 303,839 shares of the company's stock valued at $4,369,000 after acquiring an additional 23,362 shares during the last quarter. Guggenheim Capital LLC increased its stake in BlackRock Investment Quality Municipal Trust by 12.4% in the first quarter. Guggenheim Capital LLC now owns 214,721 shares of the company's stock valued at $3,088,000 after acquiring an additional 23,646 shares during the last quarter. LPL Financial LLC increased its stake in BlackRock Investment Quality Municipal Trust by 14.9% in the second quarter. LPL Financial LLC now owns 159,582 shares of the company's stock valued at $2,170,000 after acquiring an additional 20,732 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in BlackRock Investment Quality Municipal Trust by 11.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 41,032 shares of the company's stock valued at $590,000 after acquiring an additional 4,105 shares during the last quarter. Finally, Creative Planning grew its stake in shares of BlackRock Investment Quality Municipal Trust by 7.2% during the second quarter. Creative Planning now owns 32,407 shares of the company's stock valued at $441,000 after buying an additional 2,167 shares during the last quarter. Institutional investors own 12.26% of the company's stock.
About BlackRock Investment Quality Municipal Trust
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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.
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