BlackRock New Jersey Investment Quality Municipal Trust Monthly Update: November 1994

Strategic Insights -

The BlackRock New Jersey Investment Quality Municipal Trust Inc. (RNJ) has announced a monthly dividend of $0.0641 per share, or 5.13% on an annualized basis, based on the initial offering price of $15 per share. As of November 30, 1994, the trust's portfolio consisted of 46% AAA-rated securities, 20% AA-rated, 17% A-rated, and 17% BBB-rated. The trust's stock price closed at $10.375 on November 30, 1994, a discount of 4.20% to its net asset value of $10.83.

Key Takeaways:

  • The BlackRock New Jersey Investment Quality Municipal Trust Inc. (RNJ) has declared a monthly dividend of $0.0641 per share, yielding 5.13% on an annualized basis.
  • As of November 30, 1994, approximately 46% of the trust's portfolio was rated AAA, 20% was rated AA, 17% was rated A, and 17% was rated BBB.
  • The trust's stock price closed at $10.375 on November 30, 1994, representing a 4.20% discount to its net asset value of $10.83.
  • The trust employs approximately 35% leverage through preferred stock.
  • The Investment Adviser is BlackRock Financial Management L.P. (BFM), a registered investment adviser.
  • The trust's investment objective is to provide high current income that is exempt from regular Federal income tax and New Jersey State and local taxes consistent with the preservation of capital.

Statistics:

  • The trust's monthly dividend is $0.0641 per share, or 5.13% on an annualized basis, based on the initial offering price of $15 per share.
  • As of November 30, 1994, the trust's portfolio consisted of 46% AAA-rated securities, 20% AA-rated, 17% A-rated, and 17% BBB-rated.
  • The trust's stock price closed at $10.375 on November 30, 1994, a discount of 4.20% to its net asset value of $10.83.
  • The trust employs approximately 35% leverage through preferred stock.
  • Approximately 4% of the portfolio is invested in securities subject to alternative minimum tax (AMT).

Sources:

  • The BlackRock New Jersey Investment Quality Municipal Trust Inc. (RNJ) - Monthly Update: November 1994
  • The BlackRock New Jersey Investment Quality Municipal Trust Inc. (RNJ) - Semi-Annual Report: April 30, 1994
  • Prudential Mutual Fund Management Inc.
  • BlackRock Financial Management L.P. (BFM)
  • State Street Bank and Trust Company (the Custodian and Transfer Agent)