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 811-21180

 

Name of Fund: BlackRock Municipal Income Investment Quality Trust (BAF)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock Municipal Income Investment Quality Trust, 55 East 52nd Street, New York, NY 10055

 

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

 

Date of fiscal year end: 08/31/2011

 

Date of reporting period: 11/30/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments November 30, 2010 (Unaudited)

BlackRock Municipal Income Investment Quality Trust (BAF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 1.8%

 

 

 

 

 

 

 

Birmingham Special Care Facilities
Financing Authority, RB, Children’s
Hospital (AGC):

 

 

 

 

 

 

 

6.13%, 6/01/34

 

$

1,000

 

$

1,089,430

 

6.00%, 6/01/39

 

 

1,000

 

 

1,074,740

 

 

 

 

 

 

 

 

 

 

 

 

2,164,170

 

Arizona — 0.5%

 

 

 

 

 

 

 

State of Arizona, COP, Department of
Administration, Series A (AGM):

 

 

 

 

 

 

 

5.25%, 10/01/28

 

 

465

 

 

473,523

 

5.00%, 10/01/29

 

 

125

 

 

123,938

 

 

 

 

 

 

 

 

 

 

 

 

597,461

 

California — 10.9%

 

 

 

 

 

 

 

County of Sacramento California, RB,
Senior Series A (AGC), 5.50%,
7/01/41

 

 

1,400

 

 

1,446,354

 

Los Angeles Community College District
California, GO:

 

 

 

 

 

 

 

Election of 2001, Series A (NPFGC),
5.00%, 8/01/32

 

 

1,000

 

 

1,005,560

 

Election of 2008, Series C, 5.25%,
8/01/39

 

 

1,000

 

 

1,018,140

 

Los Angeles Municipal Improvement
Corp., Refunding RB, Real Property,
Series B (AGC), 5.50%, 4/01/39

 

 

3,810

 

 

3,935,654

 

Oxnard Union High School District, GO,
Refunding, Election of 2004, Series A
(AGM), 5.00%, 8/01/40

 

 

1,000

 

 

981,720

 

San Diego Public Facilities Financing
Authority, Refunding RB, Series B
(AGC), 5.38%, 8/01/34

 

 

1,125

 

 

1,174,410

 

San Jacinto Unified School District, GO,
Election of 2006 (AGM), 5.25%,
8/01/32

 

 

1,000

 

 

1,020,780

 

State of California, GO, Various Purpose
(AGM), 5.00%, 6/01/32

 

 

3,000

 

 

2,964,960

 

 

 

 

 

 

 

 

 

 

 

 

13,547,578

 

Colorado — 1.8%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB,
Hospital, NCMC Inc. Project, Series B
(AGM), 6.00%, 5/15/26

 

 

1,425

 

 

1,572,901

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Colorado (concluded)

 

 

 

 

 

 

 

Regional Transportation District, COP,
Series A, 5.00%, 6/01/25 (a)

 

$

600

 

$

600,900

 

 

 

 

 

 

 

 

 

 

 

 

2,173,801

 

Florida — 14.2%

 

 

 

 

 

 

 

City of Jacksonville Florida, RB (NPFGC),
5.00%, 10/01/31

 

 

5,000

 

 

5,007,750

 

City of Miami Florida, RB (NPFGC),
5.25%, 1/01/28

 

 

3,975

 

 

4,064,437

 

Village Center Community Development
District, RB, Series A (NPFGC), 5.00%,
11/01/32

 

 

10,000

 

 

8,497,400

 

 

 

 

 

 

 

 

 

 

 

 

17,569,587

 

Georgia — 3.2%

 

 

 

 

 

 

 

City of Atlanta Georgia, RB, General,
Series A (AGM):

 

 

 

 

 

 

 

5.00%, 1/01/35

 

 

920

 

 

909,797

 

5.00%, 1/01/40

 

 

920

 

 

899,272

 

Georgia Higher Education Facilities
Authority, RB, USG Real Estate III,
Series A (AGC), 5.00%, 6/15/38

 

 

850

 

 

837,480

 

Gwinnett County Hospital Authority,
Refunding RB, Gwinnett Hospital
System, Series D (AGM), 5.50%,
7/01/41

 

 

1,350

 

 

1,358,181

 

 

 

 

 

 

 

 

 

 

 

 

4,004,730

 

Illinois — 12.0%

 

 

 

 

 

 

 

Chicago Board of Education Illinois, GO,
Refunding, Chicago School Reform
Board, Series A (NPFGC), 5.50%,
12/01/26

 

 

745

 

 

803,654

 

Chicago Transit Authority, RB, Federal
Transit Administration Section 5309,
Series A (AGC), 6.00%, 6/01/26

 

 

1,300

 

 

1,472,757

 

City of Chicago Illinois, GO, Refunding,
Projects, Series A (AGM):

 

 

 

 

 

 

 

5.00%, 1/01/28

 

 

920

 

 

927,986

 

5.00%, 1/01/29

 

 

1,425

 

 

1,428,035

 

5.00%, 1/01/30

 

 

570

 

 

570,798

 

City of Chicago Illinois, RB, General,
Third Lien, Series C (AGM):

 

 

 

 

 

 

 

5.25%, 1/01/30

 

 

1,000

 

 

1,026,110

 

5.25%, 1/01/35

 

 

820

 

 

830,603

 

 

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 following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

BHAC

Berkshire Hathaway Assurance Corp.

COP

Certificates of Participation

EDA

Economic Development Authority

GARB

General Airport Revenue Bonds

GO

General Obligation Bonds

ISD

Independent School District

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

S/F

Single-Family

 

 

 

BLACKROCK MUNICIPAL INCOME INVESTMENT QUALITY TRUST

NOVEMBER 30, 2010

1

 

 

 

 

Schedule of Investments (continued)

BlackRock Municipal Income Investment Quality Trust (BAF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

City of Chicago Illinois, Refunding RB,
Second Lien (NPFGC), 5.50%,
1/01/30

 

$

1,000

 

$

1,074,740

 

Illinois Municipal Electric Agency, RB,
Series A (NPFGC):

 

 

 

 

 

 

 

5.25%, 2/01/28

 

 

1,560

 

 

1,605,380

 

5.25%, 2/01/35

 

 

1,250

 

 

1,261,700

 

State of Illinois, RB:

 

 

 

 

 

 

 

(AGM), 5.00%, 6/15/27

 

 

1,000

 

 

1,019,080

 

Build Illinois, Series B, 5.25%,
6/15/28

 

 

1,750

 

 

1,823,290

 

Village of Schaumburg Illinois, GO,
Series B (NPFGC), 5.00%, 12/01/38

 

 

1,000

 

 

998,500

 

 

 

 

 

 

 

 

 

 

 

 

14,842,633

 

Indiana — 4.2%

 

 

 

 

 

 

 

Indiana Finance Authority, Refunding
RB, Trinity Health, Series B, 4.50%,
12/01/37

 

 

3,000

 

 

2,653,530

 

Indianapolis Local Public Improvement
Bond Bank, Refunding RB,
Waterworks Project, Series A (AGC),
5.50%, 1/01/38

 

 

2,415

 

 

2,558,620

 

 

 

 

 

 

 

 

 

 

 

 

5,212,150

 

Iowa — 1.0%

 

 

 

 

 

 

 

Iowa Finance Authority, Refunding RB,
Iowa Health System (AGC), 5.25%,
2/15/29

 

 

1,125

 

 

1,174,444

 

Kentucky — 0.8%

 

 

 

 

 

 

 

Kentucky Municipal Power Agency, RB,
Prairie State Project, Series A (BHAC),
5.25%, 9/01/42

 

 

1,000

 

 

1,012,950

 

Louisiana — 2.7%

 

 

 

 

 

 

 

Louisiana State Citizens Property
Insurance Corp., RB, Series C-3 (AGC),
6.13%, 6/01/25

 

 

2,510

 

 

2,799,227

 

New Orleans Aviation Board Louisiana,
Refunding (AGC), Restructuring GARB:

 

 

 

 

 

 

 

Series A-1, 6.00%, 1/01/23

 

 

375

 

 

420,311

 

Series A-2, 6.00%, 1/01/23

 

 

150

 

 

168,125

 

 

 

 

 

 

 

 

 

 

 

 

3,387,663

 

Maine — 0.9%

 

 

 

 

 

 

 

City of Portland Maine, RB, General
(AGM), 5.25%, 1/01/35

 

 

1,095

 

 

1,117,152

 

Michigan — 16.2%

 

 

 

 

 

 

 

City of Detroit Michigan, RB:

 

 

 

 

 

 

 

Second Lien, Series B (AGM),
6.25%, 7/01/36

 

 

1,700

 

 

1,828,350

 

Second Lien, Series B (AGM),
7.00%, 7/01/36

 

 

200

 

 

226,442

 

Second Lien, Series B (NPFGC),
5.50%, 7/01/29

 

 

1,790

 

 

1,787,977

 

Senior Lien, Series B (AGM), 7.50%,
7/01/33

 

 

1,500

 

 

1,772,310

 

Senior Lien, Series B (BHAC),
5.50%, 7/01/35

 

 

4,750

 

 

4,850,082

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Michigan (concluded)

 

 

 

 

 

 

 

City of Detroit Michigan, RB (concluded):

 

 

 

 

 

 

 

System, Second Lien, Series A
(BHAC), 5.50%, 7/01/36

 

$

2,330

 

$

2,377,625

 

City of Detroit Michigan, Refunding RB:

 

 

 

 

 

 

 

Second Lien, Series E (BHAC),
5.75%, 7/01/31

 

 

2,300

 

 

2,416,564

 

Senior Lien, Series C-1 (AGM),
7.00%, 7/01/27

 

 

1,800

 

 

2,084,112

 

Michigan State Building Authority, RB,
Facilities Program, Series H (AGM),
5.00%, 10/15/26

 

 

365

 

 

377,133

 

Michigan State Building Authority,
Refunding RB, Facilities Program,
Series I (AGC):

 

 

 

 

 

 

 

5.25%, 10/15/24

 

 

565

 

 

597,646

 

5.25%, 10/15/25

 

 

300

 

 

314,283

 

Royal Oak Hospital Finance Authority
Michigan, Refunding RB, William
Beaumont Hospital, 8.25%, 9/01/39

 

 

1,205

 

 

1,410,055

 

 

 

 

 

 

 

 

 

 

 

 

20,042,579

 

Minnesota — 5.0%

 

 

 

 

 

 

 

City of Minneapolis Minnesota,
Refunding RB, Fairview Health
Services, Series B (AGC), 6.50%,
11/15/38

 

 

5,680

 

 

6,183,078

 

Mississippi — 1.6%

 

 

 

 

 

 

 

Mississippi Development Bank Special
Obligation, Refunding RB, Jackson
Mississippi Water and Sewer System
(AGM), 5.00%, 9/01/34

 

 

2,000

 

 

1,988,840

 

Nevada — 1.9%

 

 

 

 

 

 

 

County of Clark Nevada, RB, Las Vegas-
McCarran International Airport,
Series A (AGC), 5.25%, 7/01/39

 

 

2,295

 

 

2,284,787

 

New Jersey — 5.0%

 

 

 

 

 

 

 

New Jersey EDA, RB, School Facilities
Construction, Series Z (AGC), 6.00%,
12/15/34

 

 

1,000

 

 

1,106,860

 

New Jersey Health Care Facilities
Financing Authority, RB, Virtua Health
(AGC), 5.50%, 7/01/38

 

 

1,300

 

 

1,366,157

 

New Jersey State Housing & Mortgage
Finance Agency, RB, S/F Housing,
Series CC, 5.25%, 10/01/29

 

 

1,575

 

 

1,613,335

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
Series A (AGC), 5.50%, 12/15/38

 

 

2,000

 

 

2,146,200

 

 

 

 

 

 

 

 

 

 

 

 

6,232,552

 

New York — 2.9%

 

 

 

 

 

 

 

New York City Transitional Finance
Authority, Fiscal 2009, RB:

 

 

 

 

 

 

 

Series S-3, 5.25%, 1/15/39

 

 

900

 

 

929,376

 

Series S-4 (AGC), 5.50%, 1/15/29

 

 

2,465

 

 

2,701,319

 

 

 

 

 

 

 

 

 

 

 

 

3,630,695

 

 

 

 

2

BLACKROCK MUNICIPAL INCOME INVESTMENT QUALITY TRUST

NOVEMBER 30, 2010

 

 

 

 

Schedule of Investments (continued)

BlackRock Municipal Income Investment Quality Trust (BAF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Ohio — 0.5%

 

 

 

 

 

 

 

Ohio Higher Educational Facility
Commission, Refunding RB, Summa
Health System, 2010 Project (AGC),
5.25%, 11/15/40

 

$

625

 

$

619,669

 

Pennsylvania — 0.8%

 

 

 

 

 

 

 

Pennsylvania Turnpike Commission,
Refunding RB, Sub-Series B-1 (AGM),
5.00%, 12/01/37

 

 

1,000

 

 

1,002,150

 

Puerto Rico — 1.2%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.38%,
8/01/39

 

 

1,350

 

 

1,462,387

 

Texas — 19.9%

 

 

 

 

 

 

 

City of Austin Texas, Refunding RB,
Series A (AGM):

 

 

 

 

 

 

 

5.00%, 11/15/28

 

 

705

 

 

734,751

 

5.00%, 11/15/29

 

 

895

 

 

925,493

 

City of Dallas Texas, Refunding RB
(AGC), 5.25%, 8/15/38

 

 

800

 

 

810,536

 

City of Houston Texas, Refunding RB,
Combined, First Lien, Series A (AGC):

 

 

 

 

 

 

 

6.00%, 11/15/35

 

 

2,600

 

 

2,902,770

 

6.00%, 11/15/36

 

 

2,215

 

 

2,469,636

 

5.38%, 11/15/38

 

 

1,000

 

 

1,050,200

 

Frisco ISD Texas, GO, School Building
(AGC):

 

 

 

 

 

 

 

5.38%, 8/15/39

 

 

1,415

 

 

1,481,477

 

5.50%, 8/15/41

 

 

3,365

 

 

3,562,727

 

Harris County Health Facilities
Development Corp., Refunding RB,
Memorial Hermann Healthcare
System, Series B, 7.13%, 12/01/31

 

 

500

 

 

560,275

 

Lower Colorado River Authority,
Refunding RB, LCRA Transmission
Services Project (AGC), 5.50%,
5/15/36

 

 

1,270

 

 

1,308,913

 

Lubbock Cooper ISD Texas, GO, School
Building (AGC), 5.75%, 2/15/42

 

 

500

 

 

527,015

 

North Texas Tollway Authority, RB,
System, First Tier, Series K-1 (AGC),
5.75%, 1/01/38

 

 

1,500

 

 

1,562,865

 

North Texas Tollway Authority,
Refunding RB, System, First Tier,
Series A:

 

 

 

 

 

 

 

(AGC), 5.75%, 1/01/40

 

 

1,500

 

 

1,552,800

 

(BHAC), 5.75%, 1/01/48

 

 

1,250

 

 

1,301,900

 

(NPFGC), 5.13%, 1/01/28

 

 

2,895

 

 

2,873,722

 

Tarrant County Cultural Education
Facilities Finance Corp., Refunding
RB, Christus Health, Series A (AGC),
6.50%, 7/01/37

 

 

1,000

 

 

1,078,030

 

 

 

 

 

 

 

 

 

 

 

 

24,703,110

 

Utah — 1.3%

 

 

 

 

 

 

 

City of Riverton Utah, RB, IHC Health
Services Inc., 5.00%, 8/15/41

 

 

1,625

 

 

1,630,574

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Virginia — 0.9%

 

 

 

 

 

 

 

Virginia Public School Authority, RB,
School Financing, 6.50%, 12/01/35

 

$

1,000

 

$

1,123,870

 

Total Municipal Bonds – 111.2%

 

 

 

 

 

137,708,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (b)

 

 

 

 

 

 

 

Alabama — 1.2%

 

 

 

 

 

 

 

Mobile Board of Water & Sewer
Commissioners, RB (NPFGC), 5.00%,
1/01/31

 

 

1,500

 

 

1,508,625

 

California — 2.1%

 

 

 

 

 

 

 

San Diego Community College District
California, GO, Election of 2002
(AGM), 5.00%, 5/01/30

 

 

2,500

 

 

2,559,425

 

District of Columbia — 0.7%

 

 

 

 

 

 

 

District of Columbia Water & Sewer
Authority, RB, Series A, 6.00%,
10/01/35

 

 

760

 

 

833,077

 

Florida — 25.9%

 

 

 

 

 

 

 

City of Jacksonville Florida, RB, Better
Jacksonville (NPFGC), 5.00%,
10/01/27

 

 

3,930

 

 

3,988,871

 

County of Pinellas Florida, RB (AGM),
5.00%, 10/01/32

 

 

9,500

 

 

9,511,791

 

Florida State Board of Education, GO,
Public Education, Series A (AGM),
5.00%, 6/01/27

 

 

9,000

 

 

9,349,650

 

Palm Beach County School District, COP,
Refunding, Series D (AGM), 5.00%,
8/01/28

 

 

9,190

 

 

9,239,075

 

 

 

 

 

 

 

 

 

 

 

 

32,089,387

 

Illinois — 5.0%

 

 

 

 

 

 

 

Chicago Transit Authority, Refunding RB,
Federal Transit Administration Section
5309 (AGM), 5.00%, 6/01/28

 

 

2,999

 

 

3,001,158

 

Illinois State Toll Highway Authority, RB,
Series B, 5.50%, 1/01/33

 

 

2,999

 

 

3,148,100

 

 

 

 

 

 

 

 

 

 

 

 

6,149,258

 

Kentucky — 0.8%

 

 

 

 

 

 

 

Kentucky State Property & Building
Commission, Refunding RB, Project
No. 93 (AGC), 5.25%, 2/01/27

 

 

898

 

 

959,270

 

Nevada — 1.7%

 

 

 

 

 

 

 

Clark County Water Reclamation
District, GO, Limited Tax, 6.00%,
7/01/38

 

 

2,000

 

 

2,180,180

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 37.4%

 

 

 

 

 

46,279,222

 

Total Long-Term Investments
(Cost – $181,376,023) – 148.6%

 

 

 

 

 

183,987,832

 

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNICIPAL INCOME INVESTMENT QUALITY TRUST

NOVEMBER 30, 2010

3

 

 

 

 

Schedule of Investments (concluded)

BlackRock Municipal Income Investment Quality Trust (BAF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

FFI Institutional Tax-Exempt Fund,
0.15% (c)(d)

 

 

6,495,024

 

$

6,495,024

 

Total Short-Term Securities
(Cost – $6,495,024) – 5.2%

 

 

 

 

 

6,495,024

 

Total Investments
(Cost – $187,871,047*) – 153.8%

 

 

 

 

 

190,482,856

 

Other Assets Less Liabilities – 1.2%

 

 

 

 

 

1,542,885

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (20.9)%

 

 

 

 

 

(25,891,554

)

Preferred Shares, at Redemption Value – (34.1)%

 

 

 

 

 

(42,275,516

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

123,858,671

 

 

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

162,002,875

 

 

 

Gross unrealized appreciation

 

$

5,171,503

 

Gross unrealized depreciation

 

 

(2,557,788

)

 

 

Net unrealized appreciation

 

$

2,613,715

 

 

 

 

 

(a)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Morgan Stanley & Co.

 

$

600,900

 

$

7,002

 

 

 

(b)

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.

 

 

(c)

Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
August 31,
2010

 

Net
Activity

 

Shares
Held at
November 30,
2010

 

Income

 

FFI Institutional
Tax-Exempt
Fund

 

 

1,211,264

 

 

5,283,760

 

 

6,495,024

 

$

880

 

 

 

 

 

(d)

Represents the current yield as of report date.

 

 

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or 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)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments)

 

 

 

The inputs or methodologies 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 November 30, 2010 in determining the fair valuation of the Trust’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

183,987,832

 

 

—

 

$

183,987,832

 

Short-Term
Securities

 

$

6,495,024

 

 

—

 

 

—

 

 

6,495,024

 

Total

 

$

6,495,024

 

$

183,987,832

 

 

—

 

$

190,482,856

 

 

 

 

 

1

See above Schedule of Investments for values in each state or political subdivision.

 

 

 

4

BLACKROCK MUNICIPAL INCOME INVESTMENT QUALITY TRUST

NOVEMBER 30, 2010

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 13a-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 Municipal Income Investment Quality Trust
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock Municipal Income Investment Quality Trust
   
  Date: January 26, 2011
   
  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/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock Municipal Income Investment Quality Trust
   
  Date: January 26, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock Municipal Income Investment Quality Trust
     
  Date: January 26, 2011