Regulatory Filings • Jan 27, 2012
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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 811-05597
Invesco Municipal Income Opportunities Trust
(Exact name of registrant as specified in charter)
| 1555 Peachtree Street, N.E., Atlanta, Georgia | 30309 |
|---|---|
| (Address of principal executive offices) | (Zip code) |
Philip A. Taylor 1555 Peachtree Street, N.E., Atlanta, Georgia 30309 (Name and address of agent for service)
Registrants telephone number, including area code: (713) 626-1919
Date of fiscal year end: 2/28
Date of reporting period: 11/30/11
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link2 "Item 1. Schedule of Investments"
Item 1. Schedule of Investments.
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Invesco Municipal Income Opportunities Trust
Quarterly Schedule of Portfolio Holdings November 30, 2011
invesco.com/us MS-CE-MIOPP-QTR-1 11/11 Invesco Advisers, Inc.
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Schedule of Investments November 30, 2011 (Unaudited)
| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Municipal Obligations105.19% | ||||
| Alabama0.95% | ||||
| Colbert (County of) Northwest Alabama Health Care Authority; Series 2003, Health Care Facilities | ||||
| RB | 5.75 % | 06/01/27 | $ 1,000 | $ 991,400 |
| Huntsville (City of) Special Care Facilities Financing Authority (Redstone Village); Series 2007, | ||||
| Retirement Facility RB | 5.50 % | 01/01/43 | 370 | 277,796 |
| 1,269,196 | ||||
| Arizona2.69% | ||||
| Pima (County of) Industrial Development Authority (Constellation Schools); Series 2008, Lease RB | 7.00 % | 01/01/38 | 1,225 | 1,136,788 |
| Pima (County of) Industrial Development Authority (Global Water Resources LLC); Series 2007, Water & | ||||
| Wastewater RB (a) | 6.55 % | 12/01/37 | 800 | 796,040 |
| Pima (County of) Industrial Development Authority (Noah Webster Basic Schools); Series 2004 A, | ||||
| Education RB | 6.00 % | 12/15/24 | 500 | 487,640 |
| Pinal (County of) Electric District No. 4; Series 2008, Electrical System RB | 6.00 % | 12/01/38 | 660 | 677,807 |
| Quechan Indian Tribe of Fort Yuma (California and Arizona Governmental); Series 2008, RB | 7.00 % | 12/01/27 | 530 | 492,709 |
| 3,590,984 | ||||
| California7.76% | ||||
| Alhambra (City of) (Atherton Baptist Homes); Series 2010 A, RB | 7.63 % | 01/01/40 | 400 | 418,008 |
| Bakersfield (City of); Series 2007 A, Wastewater RB (INS-AGM) (b)(c) | 5.00 % | 09/15/32 | 390 | 402,527 |
| California (County of) Tobacco Securitization Agency (Gold Country Settlement Funding Corp.); Series | ||||
| 2006, Tobacco Settlement Asset-Backed CAB RB (d) | 0.00 % | 06/01/33 | 1,680 | 154,711 |
| California (State of) Municipal Finance Authority (High Tech High-Media Arts); Series 2008 A, | ||||
| Educational Facility RB (e) | 5.88 % | 07/01/28 | 335 | 300,757 |
| California (State of) Statewide Communities Development Authority (California Baptist University); | ||||
| Series 2007 A, RB | 5.50 % | 11/01/38 | 1,000 | 888,620 |
| Series 2011, RB | 7.25 % | 11/01/31 | 400 | 431,820 |
| California (State of) Statewide Communities Development Authority (Thomas Jefferson School of Law); | ||||
| Series 2008 A, RB (e) | 7.25 % | 10/01/38 | 200 | 202,924 |
| Daly City (City of) Housing Development Finance Agency (Franciscan Mobile Home Park Acquisition); | ||||
| Series 2007 C, Ref. Third Tier RB | 6.50 % | 12/15/47 | 980 | 910,998 |
| Desert Community College District (Election of 2004); Series 2007 C, Unlimited Tax CAB GO Bonds | ||||
| (INS-AGM) (c)(d) | 0.00 % | 08/01/46 | 4,000 | 480,840 |
| Golden State Tobacco Securitization Corp.; | ||||
| Series 2007 A-1, Sr. Tobacco Settlement Asset-Backed RB | 4.50 % | 06/01/27 | 400 | 318,740 |
| Series 2007 A-1, Sr. Tobacco Settlement Asset-Backed RB | 5.13 % | 06/01/47 | 2,850 | 1,812,828 |
| National City (City of) Community Development Commission (National City Redevelopment); Series 2011, | ||||
| Tax Allocation RB | 7.00 % | 08/01/32 | 400 | 444,652 |
| Poway Unified School District (School Facilities Improvement); Series 2011, Unlimited Tax CAB GO | ||||
| Bonds (d) | 0.00 % | 08/01/39 | 4,350 | 787,089 |
| Riverside (County of) Redevelopment Agency (Mid County Redevelopment Project Area); Series 2010 C, | ||||
| Tax Allocation RB | 6.25 % | 10/01/40 | 400 | 376,620 |
| Sacramento (County of) Community Facilities District No. 2005-2 (North Vineyard Station No. 1); | ||||
| Series 2007 A, Special Tax Bonds | 6.00 % | 09/01/37 | 400 | 332,744 |
| San Buenaventura (City of) (Community Memorial Health System); Series 2011, RB | 7.50 % | 12/01/41 | 400 | 420,080 |
| San Francisco (City & County of) Redevelopment Financial Authority (Mission Bay South | ||||
| Redevelopment); Series 2011 D, Tax Allocation RB | 7.00 % | 08/01/41 | 560 | 590,912 |
| Southern California Logistics Airport Authority; Series 2008 A, Tax Allocation CAB RB (d) | 0.00 % | 12/01/44 | 7,235 | 420,498 |
| Union City (City of) Community Redevelopment Agency (Community Redevelopment); Series 2011, Sub. | ||||
| Lien Tax Allocation RB | 6.88 % | 12/01/33 | 600 | 648,198 |
| 10,343,566 |
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Income Opportunities Trust
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Colorado3.14% | ||||
| Colorado (State of) Health Facilities Authority (Christian Living Communities); | ||||
| Series 2006 A, RB | 5.75 % | 01/01/37 | $ 600 | $ 560,778 |
| Series 2009 A, RB | 9.00 % | 01/01/34 | 500 | 526,055 |
| Colorado (State of) Health Facilities Authority (Total Longterm Care National Obligated Group); Series 2010 A, RB | 6.25 % | 11/15/40 | 400 | 409,200 |
| Colorado (State of) Housing & Finance Authority; Series 1998 D-2, Sr. Single Family Program RB (a) | 6.35 % | 11/01/29 | 190 | 203,380 |
| Colorado (State of) Regional Transportation District (Denver Transit Partners Eagle P3); Series 2010, Private Activity RB | 6.00 % | 01/15/41 | 400 | 406,964 |
| Copperleaf Metropolitan District No. 2; Series 2006, Limited Tax GO Bonds | 5.95 % | 12/01/36 | 1,000 | 648,280 |
| Denver (City of) Convention Center Hotel Authority; Series 2006, Ref. Sr. RB (INS-SGI) (c) | 5.00 % | 12/01/35 | 370 | 328,838 |
| Montrose (County of) Memorial Hospital Board of Trustees; Series 2003, Enterprise RB | 6.00 % | 12/01/33 | 400 | 406,024 |
| Northwest Metropolitan District No. 3; Series 2005, Limited Tax GO Bonds | 6.25 % | 12/01/35 | 800 | 693,400 |
| 4,182,919 | ||||
| Connecticut0.73% | ||||
| Georgetown (City of) Special Taxing District; Series 2006 A, Unlimited Tax GO Bonds (e)(f) | 5.13 % | 10/01/36 | 1,970 | 973,042 |
| Delaware0.24% | ||||
| Sussex (County of) (Cadbury at Lewes); Series 2006 A, First Mortgage RB | 6.00 % | 01/01/35 | 400 | 314,228 |
| District of Columbia0.77% | ||||
| District of Columbia (Cesar Chavez Charter School); | ||||
| Series 2011, RB | 7.88 % | 11/15/40 | 400 | 414,460 |
| District of Columbia; Series 2009 B, Ref. Income Tax Sec. RB (b) | 5.00 % | 12/01/25 | 540 | 614,153 |
| 1,028,613 | ||||
| Florida13.78% | ||||
| Alachua (County of) (North Florida Retirement Village, Inc.); | ||||
| Series 2007, IDR | 5.25 % | 11/15/17 | 500 | 476,140 |
| Series 2007, IDR | 5.88 % | 11/15/36 | 800 | 645,472 |
| Series 2007, IDR | 5.88 % | 11/15/42 | 400 | 314,900 |
| Alachua (County of) Health Facilities Authority (Terraces at Bonita Springs); Series 2011 A, Health Facilities RB | 8.13 % | 11/15/46 | 400 | 395,312 |
| Beacon Lakes Community Development District; Series 2003 A, Special Assessment Bonds | 6.90 % | 05/01/35 | 725 | 731,503 |
| Brevard (County of) Health Facilities Authority (Buena Vida Estates, Inc.); Series 2008, Residential Care Facility RB | 6.75 % | 01/01/37 | 635 | 567,087 |
| Broward (County of) (Civic Arena); Series 2006 A, Ref. Professional Sports Facilities Tax RB (INS-AGM) (b)(c) | 5.00 % | 09/01/33 | 2,960 | 3,144,023 |
| Capital Trust Agency (Million Air One LLC); Series 2011, RB (a) | 7.75 % | 01/01/41 | 400 | 412,728 |
| Collier (County of) Industrial Development Authority (Arlington Naples); Series 2011, Continuing Care Community BAN | 14.00 % | 05/15/15 | 200 | 199,058 |
| Florida Development Finance Corp. (Renaissance Charter School, Inc.); Series 2010 A, Educational Facilities RB | 6.00 % | 09/15/40 | 400 | 374,556 |
| Lee (County of) Industrial Development Authority (Cypress Cove Health Park); Series 1997 A, Health Care Facilities RB | 6.38 % | 10/01/25 | 400 | 310,672 |
| Lee (County of) Industrial Development Authority (Lee County Community Charter Schools, LLC); | ||||
| Series 2007 A, IDR | 5.25 % | 06/15/27 | 400 | 347,992 |
| Series 2007 A, IDR | 5.38 % | 06/15/37 | 1,000 | 822,150 |
| Miami-Dade (County of); Series 2009, Sub. Special Obligation CAB RB (d) | 0.00 % | 10/01/42 | 3,200 | 426,304 |
| Mid-Bay Bridge Authority; Series 2011 A, Springing Lien RB | 7.25 % | 10/01/40 | 400 | 417,956 |
| Midtown Miami Community Development District; Series 2004 A, Special Assessment RB | 6.25 % | 05/01/37 | 1,000 | 998,800 |
| Orange (County of) Health Facilities Authority (Orlando Lutheran Towers, Inc.); | ||||
| Series 2005, Ref. Health Care Facility RB | 5.70 % | 07/01/26 | 500 | 451,205 |
| Series 2007, First Mortgage RB | 5.50 % | 07/01/32 | 1,000 | 845,310 |
| Orange (County of) Health Facilities Authority (Westminster Community Care); Series 1999, RB | 6.75 % | 04/01/34 | 1,000 | 973,490 |
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Income Opportunities Trust
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Florida(continued) | ||||
| Pinellas (County of) Health Facilities Authority (The Oaks of Clearwater); Series 2004, RB | 6.25 % | 06/01/34 | $ 600 | $ 608,706 |
| Renaissance Commons Community Development District; Series 2005 A, Special Assessment Bonds | 5.60 % | 05/01/36 | 920 | 759,110 |
| South Miami (City of) Health Facilities Authority (Baptist Health South Florida Obligated Group); Series 2007, Hospital RB (b) | 5.00 % | 08/15/32 | 2,860 | 2,900,183 |
| St. Johns (County of) Industrial Development Authority (Presbyterian Retirement Communities); | ||||
| Series 2010 A, RB | 6.00 % | 08/01/45 | 400 | 404,944 |
| Tolomato Community Development District; | ||||
| Series 2007, Special Assessment Bonds (f) | 6.55 % | 05/01/27 | 600 | 342,810 |
| Series 2007 A, Special Assessment RB (f) | 5.25 % | 05/01/39 | 485 | 252,937 |
| University Square Community Development District; Series 2007 A-1, Capital Improvement Special Assessment RB | 5.88 % | 05/01/38 | 250 | 237,318 |
| 18,360,666 | ||||
| Georgia1.31% | ||||
| Atlanta (City of) (Beltline); Series 2009 B, Tax Allocation RB | 7.38 % | 01/01/31 | 400 | 421,212 |
| Atlanta (City of) (Eastside); | ||||
| Series 2005 B, Tax Allocation RB | 5.60 % | 01/01/30 | 1,000 | 1,000,590 |
| Clayton (County of) Development Authority (Delta Air Lines, Inc.); Series 2009 B, Special Facilities RB (a) | 9.00 % | 06/01/35 | 300 | 323,073 |
| 1,744,875 | ||||
| Hawaii1.45% | ||||
| Hawaii (State of) Department of Budget & Finance (15 Craigside); Series 2009 A, Special Purpose Sr. Living RB | 8.75 % | 11/15/29 | 400 | 454,792 |
| Hawaii (State of) Department of Budget & Finance (Hawaiian Electric Co.); Series 2009, Special Purpose RB | 6.50 % | 07/01/39 | 400 | 433,012 |
| Hawaii (State of) Department of Budget & Finance (Kahala Nui); Series 2003 A, Special Purpose RB | 8.00 % | 11/15/33 | 1,000 | 1,039,710 |
| 1,927,514 | ||||
| Idaho0.60% | ||||
| Idaho (State of) Health Facilities Authority (Valley Vista Care Corp.); Series 2007, Ref. RB | 6.13 % | 11/15/27 | 885 | 801,005 |
| Illinois11.55% | ||||
| Bolingbrook (Village of) Special Services Area No. 1 (Forest City); Series 2005, Special Tax RB | 5.90 % | 03/01/27 | 750 | 629,363 |
| Bolingbrook (Village of); Series 2005, Sales Tax RB | 6.25 % | 01/01/24 | 1,000 | 671,340 |
| Chicago (City of) (Lakeshore East); Series 2002, Special Assessment Improvement Bonds | 6.75 % | 12/01/32 | 1,797 | 1,843,435 |
| Chicago (City of); Series 2011 C, COP Tax Increment RN | 7.13 % | 05/01/25 | 430 | 444,358 |
| Cook (County of) (Navistar International Corp.); Series 2010, Recovery Zone Facility RB | 6.50 % | 10/15/40 | 400 | 413,796 |
| Illinois (State of) Finance Authority (CHF- DeKalb II, LLC.- Northern Illinois University); Series 2011, Student Housing RB | 6.88 % | 10/01/43 | 400 | 416,836 |
| Illinois (State of) Finance Authority (Friendship Village of Schaumburg); Series 2010, RB | 7.00 % | 02/15/38 | 580 | 563,667 |
| Illinois (State of) Finance Authority (Kewanee Hospital); Series 2006, RB | 5.00 % | 08/15/26 | 395 | 344,128 |
| Illinois (State of) Finance Authority (Luther Oaks); Series 2006 A, RB | 6.00 % | 08/15/39 | 1,000 | 784,690 |
| Illinois (State of) Finance Authority (Montgomery Place); Series 2006 A, RB | 5.75 % | 05/15/38 | 800 | 681,944 |
| Illinois (State of) Finance Authority (Park Place of Elmhurst); Series 2010 A, RB | 8.25 % | 05/15/45 | 400 | 394,608 |
| Illinois (State of) Finance Authority (Smith Crossing); Series 2003 A, RB | 7.00 % | 11/15/32 | 800 | 748,448 |
| Illinois (State of) Finance Authority (The Admiral at the Lake); Series 2010 A, RB | 7.25 % | 05/15/20 | 400 | 401,552 |
| Illinois (State of) Finance Authority (The Landing at Plymouth Place); Series 2005 A, RB | 6.00 % | 05/15/37 | 1,000 | 819,030 |
| Illinois (State of) Finance Authority (UNO Charter School Network, Inc.); | ||||
| Series 2011, Ref. Charter School RB | 6.88 % | 10/01/31 | 200 | 201,566 |
| Series 2011, Ref. Charter School RB | 7.13 % | 10/01/41 | 200 | 201,630 |
| Illinois (State of) Metropolitan Pier & Exposition Authority (McCormick Place Expansion); | ||||
| Series 2010 A, Dedicated State Tax RB (b) | 5.50 % | 06/15/50 | 390 | 401,364 |
| Series 2010 B, Ref. CAB RB (INS-AGM) (c)(d) | 0.00 % | 06/15/43 | 4,000 | 582,080 |
| Illinois (State of) Toll Highway Authority; Series 2008 B, RB (b) | 5.50 % | 01/01/33 | 1,200 | 1,265,508 |
| Long Grove (Village of) (Sunset Grove); Series 2010, Limited Obligation Tax Increment Allocation RB | 7.50 % | 01/01/30 | 400 | 395,288 |
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Income Opportunities Trust
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Illinois(continued) | ||||
| Pingree Grove (Village of) (Cambridge Lakes Learning Center); Series 2011, RB | 8.50 % | 06/01/41 | $ 400 | $ 410,996 |
| Pingree Grove (Village of) Special Service Area No. 7 (Cambridge Lakes); Series 2006-1, Special Tax Bonds | 6.00 % | 03/01/36 | 992 | 899,317 |
| United City of Yorkville (City of) (Cannonball/Beecher Road); Series 2007, Special Tax Bonds | 5.75 % | 03/01/28 | 985 | 914,218 |
| Upper Illinois River Valley Development Authority (Pleasant View Luther Home); Series 2010, RB | 7.38 % | 11/15/45 | 400 | 397,512 |
| Will (County of) & Kankakee (City of) Regional Development Authority (Senior Estates Supportive Living); Series 2007, MFH RB (a) | 7.00 % | 12/01/42 | 640 | 570,342 |
| 15,397,016 | ||||
| Indiana0.98% | ||||
| Crown Point (City of) (Wittenberg Village); Series 2009 A, Economic Development RB | 8.00 % | 11/15/39 | 400 | 413,008 |
| Indiana (State of) Finance Authority (Kings Daughters Hospital & Health Services); Series 2010, Hospital RB | 5.50 % | 08/15/45 | 300 | 274,554 |
| St. Joseph (County of) (Holy Cross Village at Notre Dame); Series 2006 A, Economic Development RB | 6.00 % | 05/15/26 | 285 | 271,505 |
| Vigo (County of) Hospital Authority (Union Hospital, Inc.); Series 2007, RB (e) | 5.80 % | 09/01/47 | 400 | 340,068 |
| 1,299,135 | ||||
| Iowa1.68% | ||||
| Cass (County of) (Cass County Memorial Hospital); Series 2010 A, Hospital RB | 7.25 % | 06/01/35 | 400 | 426,796 |
| Iowa (State of) Finance Authority (Bethany Life Communities); Series 2006 A, Ref. Senior Housing RB | 5.55 % | 11/01/41 | 1,000 | 845,430 |
| Iowa (State of) Finance Authority (Madrid Home); Series 2007, Ref. Health Care Facility RB | 5.90 % | 11/15/37 | 750 | 619,215 |
| Orange City (City of); Series 2008, Ref. Hospital Capital Loan Notes | 5.60 % | 09/01/32 | 400 | 352,392 |
| 2,243,833 | ||||
| Kansas0.40% | ||||
| Olathe (City of) (Catholic Care Campus, Inc.); Series 2006 A, Sr. Living Facility RB | 6.00 % | 11/15/38 | 560 | 530,701 |
| Kentucky0.31% | ||||
| Kentucky (State of) Economic Development Finance Authority (Masonic Home Independent Living II); Series 2011, RB | 7.38 % | 05/15/46 | 400 | 406,776 |
| Louisiana1.45% | ||||
| Lakeshore Villages Master Community Development District; Series 2007, Special Assessment Bonds (f) | 5.25 % | 07/01/17 | 794 | 317,362 |
| Louisiana (State of) Local Government Environmental Facilities & Community Development Authority (Westlake Chemical Corp.); | ||||
| Series 2009 A, RB | 6.50 % | 08/01/29 | 400 | 425,296 |
| Louisiana (State of) Public Facilities Authority (Lake Charles Memorial Hospital); Series 2007, Ref. Hospital RB (e) | 6.38 % | 12/01/34 | 400 | 392,064 |
| Tobacco Settlement Financing Corp.; Series 2001 B, Tobacco Settlement Asset-Backed RB | 5.88 % | 05/15/39 | 800 | 800,128 |
| 1,934,850 | ||||
| Maine0.31% | ||||
| Maine (State of) Health & Higher Educational Facilities Authority (Maine General Medical Center); Series 2011, RB | 6.75 % | 07/01/41 | 400 | 411,616 |
| Maryland1.38% | ||||
| Harford (County of); Series 2011, Special Obligation Tax Allocation RB | 7.50 % | 07/01/40 | 400 | 422,596 |
| Maryland (State of) Health & Higher Educational Facilities Authority (King Farm Presbyterian Retirement Community); Series 2007 | ||||
| A, RB | 5.30 % | 01/01/37 | 750 | 561,128 |
| Maryland (State of) Health & Higher Educational Facilities Authority (Washington Christian Academy); Series 2006, RB (f) | 5.50 % | 07/01/38 | 800 | 349,968 |
| Maryland (State of) Industrial Development Financing Authority (Our Lady of Good Counsel High School Facility); Series 2005 A, | ||||
| Economic Development RB | 6.00 % | 05/01/35 | 500 | 502,570 |
| 1,836,262 |
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Income Opportunities Trust
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Massachusetts3.35% | ||||
| Massachusetts (Commonwealth of); Series 2004 A, Ref. Limited Tax GO Bonds (INS-AMBAC) (b)(c) | 5.50 % | 08/01/30 | $ 390 | $ 480,129 |
| Massachusetts (State of) Development Finance Agency (Linden Ponds, Inc. Facility); | ||||
| Series 2011 A-1, RB | 6.25 % | 11/15/46 | 301 | 213,492 |
| Series 2011 A-2, RB | 5.50 % | 11/15/46 | 16 | 9,679 |
| Series 2011 B, RB (d) | 0.00 % | 11/15/56 | 80 | 390 |
| Massachusetts (State of) Development Finance Agency (Loomis Community); Series 1999 A, First Mortgage RB | 5.75 % | 07/01/23 | 1,500 | 1,499,925 |
| Massachusetts (State of) Development Finance Agency (Massachusetts Institute of Technology); Series 2002 K, RB (b) | 5.50 % | 07/01/32 | 195 | 251,704 |
| Massachusetts (State of) Development Finance Agency (The Groves in Lincoln); Series 2009 A, Senior Living Facilities RB | 7.75 % | 06/01/39 | 400 | 401,684 |
| Massachusetts (State of) Development Finance Agency (The New England Center For Children, Inc.); Series 1998, RB | 5.88 % | 11/01/18 | 1,210 | 1,184,287 |
| Massachusetts (State of) Development Finance Agency (Tufts Medical Center); Series 2011 I, RB | 6.88 % | 01/01/41 | 400 | 427,244 |
| 4,468,534 | ||||
| Michigan0.69% | ||||
| Dearborn Economic Development Corp. (Henry Ford Village, Inc.); Series 2008, Ref. Limited Obligation RB | 7.00 % | 11/15/28 | 500 | 479,435 |
| Michigan (State of) Strategic Fund (The Dow Chemical Co.); Series 2003 A-1, Ref. Limited Obligation RB (a)(g)(h) | 6.75 % | 06/01/14 | 400 | 444,908 |
| 924,343 | ||||
| Minnesota3.47% | ||||
| Anoka (City of) (The Homestead at Anoka Inc.); Series 2011 A, Health Care Facilities RB | 7.00 % | 11/01/40 | 400 | 400,256 |
| Bloomington (City of) Port Authority (Radisson Blu Moa LLC); Series 2010, Recovery Zone Facility RB | 9.00 % | 12/01/35 | 400 | 411,560 |
| Brooklyn Park (City of) (Prairie Seeds Academy); Series 2009 A, Lease RB | 9.25 % | 03/01/39 | 450 | 497,542 |
| Minneapolis (City of) (Fairview Health Services); Series 2008 A, Health Care System RB | 6.75 % | 11/15/32 | 600 | 665,700 |
| North Oaks (City of) (Presbyterian Homes of North Oaks, Inc.); Series 2007, Sr. Housing RB | 6.13 % | 10/01/39 | 750 | 741,525 |
| Rochester (City of) (Samaritan Bethany, Inc.); Series 2009 A, Ref. Health Care & Housing RB | 7.38 % | 12/01/41 | 400 | 418,404 |
| St. Paul (City of) Housing & Redevelopment Authority (Emerald Gardens); Series 2010, Ref. Tax Increment Allocation RB | 6.25 % | 03/01/25 | 400 | 404,960 |
| Tobacco Securitization Authority; Series 2011 B, Tobacco Settlement RB | 5.25 % | 03/01/31 | 400 | 404,872 |
| West St. Paul (City of) (Walker Thompson Hill, LLC); Series 2011A, Health Care Facilities RB | 7.00 % | 09/01/46 | 280 | 279,958 |
| Winsted (City of) (St. Marys Care Center); Series 2010 A, Health Care RB | 6.88 % | 09/01/42 | 400 | 402,768 |
| 4,627,545 | ||||
| Mississippi0.30% | ||||
| Mississippi Business Finance Corp. (System Energy Resources, Inc.); Series 1998, PCR | 5.88 % | 04/01/22 | 400 | 401,920 |
| Missouri4.25% | ||||
| Branson (City of) Regional Airport Transportation Development District; Series 2007 B, Airport RB (b) | 6.00 % | 07/01/37 | 500 | 217,925 |
| Branson Hills Infrastructure Facilities Community Improvement District; Series 2007 A, Special Assessment RB | 5.50 % | 04/01/27 | 750 | 517,117 |
| Bridgeton (City of) Industrial Development Authority (Sarah Community); Series 2011A, Housing Improvement & Ref. RB | 6.38 % | 05/01/35 | 400 | 397,184 |
| Cass (County of); Series 2007, Hospital RB | 5.63 % | 05/01/38 | 400 | 366,880 |
| Des Peres (City of) (West County Center); Series 2002 A, Ref. Tax Increment Allocation RB | 5.75 % | 04/15/20 | 2,000 | 2,001,840 |
| Kansas City (City of) Industrial Development Authority (Ward Parkway Center Coummunity Improvement District); Series 2011, Sales | ||||
| Tax RB | 6.75 % | 10/01/41 | 400 | 399,952 |
| Kirkwood (City of) Industrial Development Authority (Aberdeen Heights); Series 2010 A, Retirement Community RB | 8.25 % | 05/15/39 | 400 | 416,236 |
See accompanying notes which are an integral part of this schedule.
Invesco Municipal Income Opportunities Trust
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Missouri(continued) | ||||
| St. Louis (County of) Industrial Development Authority (Grand Center Redevelopment); Series 2011, Tax Increment Improvement | ||||
| RB | 6.38 % | 12/01/25 | $ 400 | $ 406,124 |
| St. Louis (County of) Industrial Development Authority (Ranken-Jordan); Series 2007, Ref. Health Facilities RB | 5.00 % | 11/15/22 | 250 | 228,623 |
| St. Louis (County of) Industrial Development Authority (St. Andrews Resources for Seniors); Series 2007 A, Sr. Living | ||||
| Facilities RB | 6.38 % | 12/01/41 | 750 | 705,517 |
| 5,657,398 | ||||
| Nebraska0.31% | ||||
| Gage (County of) Hospital Authority No. 1 (Beatrice Community Hospital & Health Center); Series 2010 B, Health Care | ||||
| Facilities RB | 6.75 % | 06/01/35 | 400 | 407,368 |
| Nevada1.66% | ||||
| Director of the State of Nevada Department of Business & Industry (Las Vegas Monorail); Series 2000, Second Tier RB (f) | 7.38 % | 01/01/40 | 1,000 | 1,400 |
| Henderson (City of) (Local Improvement District No. T-18); Series 2006, Special Assessment RB | 5.30 % | 09/01/35 | 450 | 236,430 |
| Las Vegas (City of) Redevelopment Agency; Series 2009 A, Tax Increment Allocation RB | 8.00 % | 06/15/30 | 500 | 573,640 |
| Mesquite (City of) Special Improvement District No. 7 (Anthem at Mesquite); Series 2007, Local Improvement Bonds | 6.00 % | 08/01/23 | 970 | 877,617 |
| Sparks (City | ||||
| of) Local Improvement Districts No. 3 (Legends at Sparks Marina); Series 2008, Limited Obligation Improvement Bonds | 6.50 % | 09/01/20 | 520 | 525,299 |
| 2,214,386 | ||||
| New Hampshire0.31% | ||||
| New Hampshire (State of) Business Finance Authority (Huggins Hospital); Series 2009, First Mortgage RB | 6.88 % | 10/01/39 | 400 | 418,912 |
| New Jersey4.97% | ||||
| Essex (County of) Improvement Authority (Newark); Series 2010 A, RB | 6.25 % | 11/01/30 | 400 | 428,032 |
| New Jersey (State of) Economic Development Authority (Continental Airlines, Inc.); | ||||
| Series 1999, Special Facility RB (a) | 6.25 % | 09/15/19 | 400 | 392,100 |
| Series 1999, Special Facility RB (a) | 6.40 % | 09/15/23 | 210 | 208,417 |
| New Jersey (State of) Economic Development Authority (Lions Gate); Series 2005 A, First Mortgage RB | 5.88 % | 01/01/37 | 730 | 635,049 |
| New Jersey (State of) Economic Development Authority (Presbyterian Home at Montgomery); Series 2001 A, First Mortgage RB | 6.38 % | 11/01/31 | 1,000 | 886,120 |
| New Jersey (State of) Economic Development Authority (Seashore Gardens Living Center); Series 2006, First Mortgage RB | 5.38 % | 11/01/36 | 700 | 521,493 |
| New Jersey (State of) Economic Development Authority (United Methodist Homes); Series 1998, Ref. RB | 5.13 % | 07/01/25 | 2,000 | 1,765,760 |
| New Jersey (State of) Health Care Facilities Financing Authority (Raritan Bay Medical Center); Series 1994, RB | 7.25 % | 07/01/27 | 600 | 458,250 |
| New Jersey (State of) Health Care Facilities Financing Authority (St. Josephs Health Care System); Series 2008, RB | 6.63 % | 07/01/38 | 400 | 401,552 |
| Tobacco Settlement Financing Corp.; | ||||
| Series 2007 1A, RB | 4.50 % | 06/01/23 | 400 | 362,264 |
| Series 2007 1A, RB | 5.00 % | 06/01/29 | 400 | 305,828 |
| Series 2007 1A, RB | 5.00 % | 06/01/41 | 380 | 263,564 |
| 6,628,429 | ||||
| New Mexico0.30% | ||||
| New Mexico (State of) Hospital Equipment Loan Council (La Vida Llena); Series 2010 A, First Mortgage RB | 6.13 % | 07/01/40 | 400 | 402,624 |
| New York4.49% | ||||
| Brooklyn Arena Local Development Corp. (Barclays Center); | ||||
| Series 2009, CAB RB (d) | 0.00 % | 07/15/35 | 560 | 138,398 |
| Series 2009, CAB RB (d) | 0.00 % | 07/15/46 | 4,000 | 458,440 |
| Nassau (County of) Industrial Development Agency (Amsterdam at Harborside); Series 2007 A, Continuing Care Retirement Community | ||||
| RB | 6.50 % | 01/01/27 | 625 | 520,694 |
See accompanying notes which are an integral part of this schedule.
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| New York(continued) | ||||
| New York (City of) Industrial Development Agency (7 World Trade Center, LLC); Series 2005 A, Liberty RB | 6.50 % | 03/01/35 | $ 640 | $ 639,904 |
| New York (City of) Industrial Development Agency (Polytechnic University); Series 2007, Civic Facility RB (INS-ACA) (c) | 5.25 % | 11/01/37 | 500 | 490,260 |
| New York (State of) Dormitory Authority (Orange Regional Medical Center); Series 2008, Non State Supported Debt RB | 6.25 % | 12/01/37 | 400 | 400,336 |
| New York Liberty Development Corp. (Bank of America Tower at One Bryant Park); Series 2010, Ref. Second Priority Liberty RB | 6.38 % | 07/15/49 | 400 | 416,276 |
| New York Liberty Development Corp. (National Sports Museum); Series 2006 A, RB (Acquired 08/07/06; Cost $848,563) (e)(f) | 6.13 % | 02/15/19 | 1,000 | 10 |
| Seneca (County of) Industrial Development Agency (Seneca Meadows, Inc.); Series 2005, RB (a)(e)(g)(h) | 6.63 % | 10/01/13 | 400 | 401,756 |
| Suffolk (County of) Industrial Development Agency (Medford Hamlet Assisted Living); Series 2005, Assisted Living Facility RB (a) | 6.38 % | 01/01/39 | 1,440 | 1,232,741 |
| The Port Authority of New York and New Jersey; | ||||
| One Hundred Sixty-Ninth Series 2011, Consolidated Bonds (b) | 5.00 % | 10/15/27 | 680 | 730,116 |
| One Hundred Sixty-Ninth Series 2011, Consolidated Bonds (b) | 5.00 % | 10/15/28 | 520 | 554,835 |
| 5,983,766 | ||||
| North Carolina0.31% | ||||
| North Carolina (State of) Medical Care Commission (Whitestone); Series 2011 A, First Mortgage Retirement Facilities RB | 7.75 % | 03/01/41 | 400 | 411,480 |
| North Dakota0.63% | ||||
| Grand Forks (City of) (4000 Valley Square); Series 2006, Ref. Sr. Housing RB | 5.30 % | 12/01/34 | 1,000 | 842,070 |
| Ohio2.26% | ||||
| Centerville (City of) (Bethany Lutheran Village Continuing Care Facility Expansion); Series 2007 A, Health Care RB | 6.00 % | 11/01/38 | 600 | 523,140 |
| Cuyahoga (County of) (Eliza Jennings Senior Care Network); Series 2007 A, Health Care & Independent Living Facilities RB | 5.75 % | 05/15/27 | 850 | 784,873 |
| Lorain (County of) Port Authority (U.S. Steel Corp.); Series 2010, Recovery Zone Facility RB | 6.75 % | 12/01/40 | 400 | 407,824 |
| Montgomery (County of) (St. Leonard); Series 2010, Ref. & Improvement Health Care MFH RB | 6.63 % | 04/01/40 | 400 | 401,604 |
| Ohio (State of) Air Quality Development Authority (FirstEnergy Generation Corp.); Series 2009 C, Ref. PCR | 5.63 % | 06/01/18 | 400 | 449,152 |
| Toledo-Lucas (County of) Port Authority (Crocker Park Public Improvement); Series 2003, Special Assessment RB | 5.38 % | 12/01/35 | 480 | 442,670 |
| 3,009,263 | ||||
| Oklahoma0.67% | ||||
| Citizen Potawatomi Nation; Series 2004 A, Sr. Obligation Tax RB | 6.50 % | 09/01/16 | 500 | 480,260 |
| Tulsa (County of) Industrial Authority (Montereau, Inc.); Series 2010 A, Sr. Living Community RB | 7.25 % | 11/01/45 | 400 | 415,252 |
| 895,512 | ||||
| Pennsylvania4.99% | ||||
| Allegheny (County of) Industrial Development Authority (Propel Charter School-Montour); Series 2010 A, Charter School RB | 6.75 % | 08/15/35 | 390 | 378,522 |
| Bucks (County of) Industrial Development Authority (Anns Choice, Inc. Facility); Series 2005 A, Retirement Community RB | 6.13 % | 01/01/25 | 1,500 | 1,465,260 |
| Chester (County of) Health & Education Facilities Authority (Jenners Pond, Inc.); Series 2002, Sr. Living Facility RB (g)(i) | 7.63 % | 07/01/12 | 1,000 | 1,063,070 |
| Cumberland (County of) Municipal Authority (Asbury Pennsylvania Obligated Group); Series 2010, RB | 6.13 % | 01/01/45 | 385 | 359,621 |
| Harrisburg (City of) Authority (Harrisburg University of Science); Series 2007 B, University RB | 6.00 % | 09/01/36 | 750 | 665,475 |
| Montgomery (County of) Industrial Development Authority (Philadelphia Presbytery Homes, Inc.); Series 2010, RB | 6.63 % | 12/01/30 | 400 | 417,684 |
See accompanying notes which are an integral part of this schedule.
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| Interest | Maturity | Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Pennsylvania(continued) | ||||
| Pennsylvania (State of) Intergovernmental Cooperation Authority (City of Philadelphia Funding Program); Series 2009, Ref. Special Tax RB (b) | 5.00 % | 06/15/21 | $1,230 | $ 1,430,047 |
| Washington (County of) Redevelopment Authority (Victory Centre Tanger Outlet Development); Series 2006 A, Tax Allocation RB (g)(h) | 5.45 % | 07/01/35 | 970 | 873,757 |
| 6,653,436 | ||||
| Puerto Rico0.30% | ||||
| Puerto Rico Sales Tax Financing Corp.; First Subseries 2010 A, CAB RB (d) | 0.00 % | 08/01/34 | 1,600 | 395,168 |
| Rhode Island0.23% | ||||
| Tobacco Settlement Corp.; Series 2002 A, Asset-Backed RB | 6.25 % | 06/01/42 | 335 | 307,624 |
| South Carolina1.57% | ||||
| Georgetown (County of) (International Paper Co.); Series 2000 A, Ref. Environmental Improvement RB | 5.95 % | 03/15/14 | 300 | 323,040 |
| Myrtle Beach (City of) (Myrtle Beach Air Force Base); Series 2006 A, Tax Increment Allocation RB | 5.30 % | 10/01/35 | 1,250 | 945,475 |
| South Carolina (State of) Jobs-Economic Development Authority (The Woodlands at Furman); Series 2007 A, RB (f) | 6.00 % | 11/15/37 | 625 | 246,869 |
| South Carolina (State of) Jobs-Economic Development Authority (Wesley Commons); Series 2006, Ref. First Mortgage Health | ||||
| Facilities RB | 5.30 % | 10/01/36 | 750 | 576,127 |
| 2,091,511 | ||||
| South Dakota0.24% | ||||
| Sioux Falls (City of) (Dow Rummel Village); Series 2006, Ref. Health Facilities RB | 5.00 % | 11/15/33 | 400 | 317,340 |
| Tennessee2.40% | ||||
| Johnson (City of) Health & Educational Facilities Board (Mountain States Health Alliance); Series 2006 A, First Mortgage | ||||
| Hospital RB | 5.50 % | 07/01/31 | 800 | 807,856 |
| Metropolitan Government of Nashville & Davidson (County of) Health & Educational Facilities Board (Blakeford at Green Hills); | ||||
| Series 1998, Ref. RB | 5.65 % | 07/01/24 | 400 | 380,612 |
| Shelby (County of) Health Educational & Housing Facilities Board (Germantown Village); | ||||
| Series 2003 A, Residential Care Facility Mortgage RB | 7.25 % | 12/01/34 | 750 | 719,707 |
| Series 2006, Residential Care Facility Mortgage RB | 6.25 % | 12/01/34 | 475 | 409,232 |
| Shelby (County of) Health Educational & Housing Facilities Board (Trezevant Manor); Series 2006 A, RB | 5.75 % | 09/01/37 | 500 | 449,915 |
| Trenton (City of) Health & Educational Facilities Board (RHA/Trenton MR, Inc.); Series 2009, RB | 9.25 % | 04/01/39 | 400 | 424,312 |
| 3,191,634 | ||||
| Texas8.75% | ||||
| Alliance (City of) Airport Authority (American Airlines, Inc.); Series 2007, Ref. RB (a)(f) | 5.25 % | 12/01/29 | 400 | 76,120 |
| Alliance Airport Authority, Inc. (Federal Express Corp.); Series 2006, Ref. Special Facilities RB (a) | 4.85 % | 04/01/21 | 500 | 522,860 |
| Austin Convention Enterprises, Inc.; Series 2006 B, Ref. Convention Center Second Tier RB (e) | 5.75 % | 01/01/34 | 600 | 557,520 |
| Capital Area Cultural Education Facilities Finance Corp. (The Roman Catholic Diocese of Austin); Series 2005 B, RB | 6.13 % | 04/01/45 | 400 | 413,260 |
| Central Texas Regional Mobility Authority; Series 2011, Sub. Lien RB | 6.75 % | 01/01/41 | 400 | 400,532 |
| Clifton Higher Education Finance Corp. (Uplift Education); Series 2010 A, Education RB | 6.25 % | 12/01/45 | 400 | 408,548 |
| Decatur (City of) Hospital Authority (Wise Regional Health System); Series 2004 A, RB | 7.13 % | 09/01/34 | 700 | 700,371 |
| HFDC of Central Texas, Inc. (Legacy at Willow Bend); Series 2006 A, Retirement Facilities RB | 5.75 % | 11/01/36 | 400 | 334,444 |
| HFDC of Central Texas, Inc. (Sears Tyler Methodist); Series 2009 A, RB | 7.75 % | 11/15/44 | 400 | 380,664 |
| Houston (City of) (Continental Airlines, Inc. Terminal E); | ||||
| Series 2001 E, Airport System Special Facilities RB (a) | 6.75 % | 07/01/21 | 425 | 424,975 |
| Series 2001 E, Airport System Special Facilities RB (a) | 6.75 % | 07/01/29 | 215 | 213,607 |
| Houston Higher Education Finance Corp. (Cosmos Foundation, Inc.); Series 2011 A, RB | 6.88 % | 05/15/41 | 400 | 431,860 |
| La Vernia Higher Education Finance Corp. (Kipp, Inc.); Series 2009 A, RB | 6.25 % | 08/15/39 | 400 | 422,976 |
See accompanying notes which are an integral part of this schedule.
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| Interest | Maturity | Principal — Amount | ||
|---|---|---|---|---|
| Rate | Date | (000) | Value | |
| Texas(continued) | ||||
| Lubbock Health Facilities Development Corp. (Carillon Senior LifeCare Community); Series 2005 A, Ref. First Mortgage RB | 6.50 % | 07/01/26 | $ 875 | $ 840,735 |
| North Texas Tollway Authority (Special Project System); | ||||
| Series 2011, Ref. First Tier RB | 5.00 % | 01/01/38 | 400 | 396,240 |
| Series 2011 B, CAB RB (d) | 0.00 % | 09/01/37 | 2,800 | 552,496 |
| North Texas Tollway Authority; Series 2008 A, First Tier RB (INS-BHAC) (b)(c) | 5.75 % | 01/01/48 | 1,200 | 1,273,788 |
| Tarrant County Cultural Education Facilities Finance Corp. (Mirador); Series 2010 A, Retirement Facility RB | 8.13 % | 11/15/39 | 400 | 395,536 |
| Tarrant County Cultural Education Facilities Finance Corp. (Northwest Senior Housing Corp.-Edgemere); Series 2006 A, Retirement | ||||
| Facilities RB | 6.00 % | 11/15/36 | 450 | 435,856 |
| Texas (State of) Turnpike Authority (Central Texas Turnpike); Series 2002, CAB RB (INS-AMBAC) (c)(d) | 0.00 % | 08/15/33 | 1,665 | 410,522 |
| Texas Private Activity Bond Surface Transportation Corp. (LBJ Infrastructure); Series 2010, Sr. Lien RB | 7.00 % | 06/30/40 | 400 | 433,756 |
| Texas State Private Activity Bond Surface Transportation Corp. (NTE Mobility Partners LLC North Tarrant Express Management | ||||
| Lanes); Series 2009, Sr. Lien RB | 6.88 % | 12/31/39 | 400 | 428,476 |
| Texas State Public Finance Authority Charter School Finance Corp. (Odyssey Academy, Inc.); Series 2010 A, Education RB | 7.13 % | 02/15/40 | 400 | 410,368 |
| Travis County Health Facilities Development Corp. (Westminster Manor); Series 2010, RB | 7.00 % | 11/01/30 | 400 | 418,580 |
| Tyler Health Facilities Development Corp. (Mother Frances Hospital); Series 2007, Ref. RB | 5.00 % | 07/01/33 | 400 | 381,448 |
| 11,665,538 | ||||
| Utah1.03% | ||||
| Emery (County of) (Pacificorp); Series 1996, Environmental Improvement RB (a) | 6.15 % | 09/01/30 | 1,000 | 1,000,030 |
| Utah (State of) Charter School Finance Authority (North Davis Preparatory Academy); Series 2010, Charter School RB | 6.38 % | 07/15/40 | 400 | 377,448 |
| 1,377,478 | ||||
| Virginia1.74% | ||||
| Chesterfield (County of) Economic Development Authority (Brandermill Woods); Series 1998, Ref. Mortgage RB (e) | 6.50 % | 01/01/28 | 800 | 729,368 |
| Lexington (City of) Industrial Development Authority (Kendal at Lexington); Series 2007 A, Residential Care Facilities Mortgage | ||||
| RB | 5.50 % | 01/01/37 | 420 | 359,600 |
| Peninsula Town Center Community Development Authority; Series 2007, Special Obligation RB | 6.45 % | 09/01/37 | 695 | 699,879 |
| Virginia (State of) Small Business Financing Authority (Hampton Roads Proton Beam Therapy Institute at Hampton University, LLC); | ||||
| Series 2009, RB (e) | 9.00 % | 07/01/39 | 500 | 527,230 |
| 2,316,077 | ||||
| Washington2.78% | ||||
| King (County of) Public Hospital District No. 4 (Snoqualmie Valley Hospital); | ||||
| Series 2009, Ref. & Improvement Limited Tax GO Bonds | 7.25 % | 12/01/38 | 400 | 403,308 |
| Series 2011, Ref. & Improvement Limited Tax GO Bonds | 7.00 % | 12/01/40 | 400 | 400,000 |
| King (County of) Washington; Series 2011 B, Ref. Sewer RB (b) | 5.00 % | 01/01/34 | 1,200 | 1,282,608 |
| Seattle Industrial Development Corp. (Northwest Airlines, Inc.); Series 2001, Special Facilities RB (a) | 7.25 % | 04/01/30 | 650 | 646,652 |
| Washington (State of) Health Care Facilities Authority (Central Washington Health Services Association); Series 2009, RB | 7.00 % | 07/01/39 | 400 | 414,580 |
| Washington (State of) Health Care Facilities Authority (Seattle Cancer Care Alliance); Series 2009, RB | 7.38 % | 03/01/38 | 500 | 555,230 |
| 3,702,378 | ||||
| West Virginia0.59% | ||||
| West Virginia (State of) Hospital Finance Authority (Thomas Health System); Series 2008, Hospital RB | 6.50 % | 10/01/38 | 825 | 792,594 |
| Wisconsin1.12% | ||||
| Wisconsin (State of) Health & Educational Facilities Authority (Prohealth Care, Inc. Obligated Group); Series 2009, RB | 6.38 % | 02/15/29 | 600 | 657,912 |
See accompanying notes which are an integral part of this schedule.
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| Interest | Maturity | Principal — Amount | |||
|---|---|---|---|---|---|
| Rate | Date | (000) | Value | ||
| Wisconsin(continued) | |||||
| Wisconsin (State of) Health & Educational Facilities Authority (St. Johns Community, Inc.); Series 2009 A, RB | 7.63 % | 09/15/39 | $ 400 | $ 424,908 | |
| Wisconsin (State of) Public Finance Authority (Glenridge Palmer Ranch); Series 2011 A, Continuing Care Retirement Community RB | 8.25 % | 06/01/46 | 400 | 411,820 | |
| 1,494,640 | |||||
| TOTAL INVESTMENTS (j) 105.19% (Cost $147,006,269) | 140,195,765 | ||||
| FLOATING RATE NOTE OBLIGATIONS(6.48)% | |||||
| Notes with interest rates ranging from 0.14% to 0.24% at 11/30/11 and contractual maturities of collateral ranging from 06/15/21 to 06/15/50 (See | |||||
| Note 1D) (k) | (8,635,000 | ) | |||
| OTHER ASSETS LESS LIABILITIES1.29% | 1,719,379 | ||||
| NET ASSETS100.00% | $ 133,280,144 |
Investment Abbreviations:
| ACA | ACA Financial Guaranty Corp. |
|---|---|
| AGM | Assured Guaranty Municipal Corp. |
| AMBAC | American Municipal Bond Assurance Corp. |
| BAN | Bond Anticipation Notes |
| BHAC | Berkshire Hathaway Assurance Corp. |
| CAB | Capital Appreciation Bonds |
| COP | Certificates of Participation |
| GO | General Obligation |
| IDR | Industrial Development Revenue Bonds |
| INS | Insurer |
| MFH | Multi-Family Housing |
| PCR | Pollution Control Revenue Bonds |
| RB | Revenue Bonds |
| Ref. | Refunding |
| RN | Revenue Notes |
| Sec. | Secured |
| SGI | Syncora Guarantee, Inc. |
| Sr. | Senior |
| Sub. | Subordinated |
Notes to Schedule of Investments:
| (a) | Security subject to the alternative minimum tax. |
|---|---|
| (b) | Underlying security related to Dealer Trusts entered into by the Trust. See Note 1D. |
| (c) | Principal and/or interest payments are secured by the bond insurance company listed. |
| (d) | Zero coupon bond issued at a discount. |
| (e) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. |
| The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified | |
| institutional buyers. The aggregate value of these securities at November 30, 2011 was $4,424,739, which represented | |
| 3.32% of the Trusts Net Assets. | |
| (f) | Defaulted security. Currently, the issuer is partially or fully in default with respect to interest payments. The |
| aggregate value of these securities at November 30, 2011 was $2,560,518, which represented 1.92% of the Trusts Net | |
| Assets. | |
| (g) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. |
| (h) | Interest rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2011. |
| (i) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. |
| (j) | Entities may either issue, guarantee, back or otherwise enhance the credit quality of a security. The entities are not |
| primarily responsible for the issuers obligation but may be called upon to satisfy issuers obligations. No | |
| concentration of any single entity was greater than 5%. | |
| (k) | Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at |
| November 30, 2011. At November 30, 2011, the Trusts investments with a value of $14,730,985 are held by Dealer Trusts | |
| and serve as collateral for the $8,635,000 in the floating rate note obligations outstanding at that date. |
See accompanying notes which are an integral part of this schedule.
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Notes to Quarterly Schedule of Portfolio Holdings
November 30, 2011
(Unaudited)
NOTE 1 Significant Accounting Policies
A. Security Valuations Securities, including restricted securities, are valued according to the following policy.
Securities are fair valued using an evaluated quote provided by an independent pricing service approved by the Board of Trustees. Evaluated quotes provided by the pricing service may be determined without exclusive reliance on quoted prices and may reflect appropriate factors such as institution-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, individual trading characteristics and other market data. Securities with a demand feature exercisable within one to seven days are valued at par. Debt securities are subject to interest rate and credit risks. In addition, all debt securities involve some risk of default with respect to interest and principal payments.
Securities for which market quotations either are not readily available or are unreliable are valued at fair value as determined in good faith by or under the supervision of the Trusts officers following procedures approved by the Board of Trustees. Some of the factors which may be considered in determining fair value are fundamental analytical data relating to the investment; the nature and duration of any restrictions on transferability or disposition; trading in similar securities by the same issuer or comparable companies; relevant political, economic or issuer specific news; and other relevant factors under the circumstances.
Valuations change in response to many factors including the historical and prospective earnings of the issuer, the value of the issuers assets, general economic conditions, interest rates, investor perceptions and market liquidity. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
B. Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes.
The Trust may periodically participate in litigation related to Trust investments. As such, the Trust may receive proceeds from litigation settlements. Any proceeds received are included in the Statement of Operations as realized gain (loss) for investments no longer held and as unrealized gain (loss) for investments still held.
Brokerage commissions and mark ups are considered transaction costs and are recorded as an increase to the cost basis of securities purchased and/or a reduction of proceeds on a sale of securities. Such transaction costs are included in the determination of net realized and unrealized gain (loss) from investment securities reported in the Statement of Operations and the Statement of Changes in Net Assets and the net realized and unrealized gains (losses) on securities per share in the Financial Highlights. Transaction costs are included in the calculation of the Trusts net asset value and, accordingly, they reduce the Trusts total returns. These transaction costs are not considered operating expenses and are not reflected in net investment income reported in the Statement of Operations and Statement of Changes in Net Assets, or the net investment income per share and ratios of expenses and net investment income reported in the Financial Highlights, nor are they limited by any expense limitation arrangements between the Trust and the investment adviser.
C. Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted.
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D. Floating Rate Note Obligations The Trust invests in inverse floating rate securities, such as Residual Interest Bonds (RIBs) or Tender Option Bonds (TOBs) for investment purposes and to enhance the yield of the Trust. Inverse floating rate investments tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. Such transactions may be purchased in the secondary market without first owning the underlying bond or by the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer (Dealer Trusts) in exchange for cash and residual interests in the Dealer Trusts assets and cash flows, which are in the form of inverse floating rate securities. The Dealer Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interest in the bonds. The floating rate notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate investments) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts.
TOBs are presently classified as private placement securities. Private placement securities are subject to restrictions on resale because they have not been registered under the Securities Act of 1933, as amended or are otherwise not readily marketable. As a result of the absence of a public trading market for these securities, they may be less liquid than publicly traded securities. Although these securities may be resold in privately negotiated transactions, the prices realized from these sales could be less than those originally paid by the Trust or less than what may be considered the fair value of such securities.
The Trust accounts for the transfer of bonds to the Dealer Trusts as secured borrowings, with the securities transferred remaining in the Trusts investment assets, and the related floating rate notes reflected as Trust liabilities under the caption Floating rate note obligations on the Statement of Assets and Liabilities. The Trust records the interest income from the fixed rate bonds under the caption Interest and records the expenses related to floating rate obligations and any administrative expenses of the Dealer Trusts a component of Interest, facilities and maintenance fees on the Statement of Operations.
The Trust generally invests in inverse floating rate securities that include embedded leverage, thus exposing the Trust to greater risks and increased costs. The primary risks associated with inverse floating rate securities are varying degrees of liquidity and the changes in the value of such securities in response to changes in market rates of interest to a greater extent than the value of an equal principal amount of a fixed rate security having similar credit quality, redemption provisions and maturity which may cause the Trusts net asset value to be more volatile than if it had not invested in inverse floating rate securities. In certain instances, the short-term floating rate interests created by the special purpose trust may not be able to be sold to third parties or, in the case of holders tendering (or putting) such interests for repayment of principal, may not be able to be remarketed to third parties. In such cases, the special purpose trust holding the long-term fixed rate bonds may be collapsed. In the case of RIBs or TOBs created by the contribution of long-term fixed income bonds by the Trust, the Trust will then be required to repay the principal amount of the tendered securities. During times of market volatility, illiquidity or uncertainty, the Trust could be required to sell other portfolio holdings at a disadvantageous time to raise cash to meet that obligation.
E. Other Risks The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located.
Since, many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation and utilities, conditions in those sectors can affect the overall municipal securities market and a Trusts investments in municipal securities.
There is some risk that a portion or all of the interest received from certain tax-free municipal securities could become taxable as a result of determinations by the Internal Revenue Service.
Invesco Municipal Income Opportunities Trust
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NOTE 2 Additional Valuation Information
Generally Accepted Accounting Principles (GAAP) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, under current market conditions. GAAP establishes a hierarchy that prioritizes the inputs to valuation methods giving the highest priority to readily available unadjusted quoted prices in an active market for identical assets (Level 1) and the lowest priority to significant unobservable inputs (Level 3) generally when market prices are not readily available or are unreliable. Based on the valuation inputs, the securities or other investments are tiered into one of three levels. Changes in valuation methods may result in transfers in or out of an investments assigned level:
| Level 1 | Prices are determined using quoted prices in an active market for identical
assets. |
| --- | --- |
| Level 2 | Prices are determined using other significant observable inputs.
Observable inputs are inputs that other market participants may use in pricing a
security. These may include quoted prices for similar securities, interest rates,
prepayment speeds, credit risk, yield curves, loss severities, default rates, discount
rates, volatilities and others. |
| Level 3 | Prices are determined using significant unobservable inputs. In
situations where quoted prices or observable inputs are unavailable (for example, when
there is little or no market activity for an investment at the end of the period),
unobservable inputs may be used. Unobservable inputs reflect the Trusts own
assumptions about the factors market participants would use in determining fair value
of the securities or instruments and would be based on the best available information. |
The following is a summary of the tiered valuation input levels, as of November 30, 2011. The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities. Because of the inherent uncertainties of valuation, the values reflected in the financial statements may materially differ from the value received upon actual sale of those investments.
During the nine months ended November 30, 2011, there were no significant transfers between investment levels.
| Level | Level 2 | Level 3 | Total | |
|---|---|---|---|---|
| Municipal Obligations | $ | $ 140,195,765 | $ | $ 140,195,765 |
NOTE 3 Investment Securities
The aggregate amount of investment securities (other than short-term securities, U.S. Treasury obligations and money market funds, if any) purchased and sold by the Trust during the nine months ended November 30, 2011 was $34,455,339 and $31,892,898, respectively. Cost of investments on a tax basis includes the adjustments for financial reporting purposes as of the most recently completed Federal income tax reporting period-end.
| Unrealized Appreciation (Depreciation) of Investment Securities on a Tax Basis — Aggregate unrealized appreciation of investment securities | $ 5,111,660 | |
|---|---|---|
| Aggregate unrealized (depreciation) of investment securities | (11,652,188 | ) |
| Net unrealized appreciation (depreciation) of investment securities | $ (6,540,528 | ) |
| Cost of investments for tax purposes is $146,736,293. |
Invesco Municipal Income Opportunities Trust
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Item 2. Controls and Procedures.
| (a) | As of December 15, 2011, an evaluation was performed under the supervision and with the
participation of the officers of the Registrant, including the Principal Executive Officer
(PEO) and Principal Financial Officer (PFO), to assess the effectiveness of the
Registrants disclosure controls and procedures, as that term is defined in Rule 30a-3(c)
under the Investment Company Act of 1940 (Act), as amended. Based on that evaluation,
the Registrants officers, including the PEO and PFO, concluded that, as of December 15,
2011, the Registrants disclosure controls and procedures were reasonably designed so as to
ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is
recorded, processed, summarized and reported within the time periods specified by the rules
and forms of the Securities and Exchange Commission; and (2) that material information
relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely
decisions regarding required disclosure. |
| --- | --- |
| (b) | There have been no changes in the Registrants internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrants
last fiscal quarter that have materially affected, or are reasonably likely to materially
affect, the Registrants internal control over financial reporting. |
Item 3. Exhibits.
Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940.
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SIGNATURES
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.
Registrant: Invesco Municipal Income Opportunities Trust
| By: |
|---|
| Philip A. Taylor |
| Principal Executive Officer |
Date: January 27, 2012
Pursuant to the requirements of the Securities and 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: |
|---|
| Philip A. Taylor |
| Principal Executive Officer |
Date: January 27, 2012
| By: |
|---|
| Sheri Morris |
| Principal Financial Officer |
Date: January 27, 2012
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link1 "EXHIBIT INDEX"
EXHIBIT INDEX
Certifications of Principal Executive Officer (PEO) and Principal Financial Officer (PFO) as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended.
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