Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-6265         

        Nuveen Pennsylvania Investment Quality Municipal Fund         
(Exact name of registrant as specified in charter)

Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Kevin J. McCarthy—Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            4/30          

Date of reporting period:         7/31/07         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

    Portfolio of Investments (Unaudited)             
    Nuveen Pennsylvania Investment Quality Municipal Fund (NQP)             
    July 31, 2007             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Consumer Staples – 0.5% (0.3% of Total Investments)             
$          1,000    Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds,    No Opt. Call    AA–   $   1,087,300 
     Procter & Gamble Paper Project, Series 2001, 5.375%, 3/01/31 (Alternative Minimum Tax)             
    Education and Civic Organizations – 27.0% (16.5% of Total Investments)             
2,000    Allegheny County Higher Education Building Authority, Pennsylvania, College Revenue Bonds,    9/08 at 102.00    BBB    2,036,320 
     Chatham College, Series 1998A, 5.250%, 9/01/18             
200    Allegheny County Higher Education Building Authority, Pennsylvania, College Revenue Refunding    No Opt. Call    Baa3    223,000 
     Bonds, Robert Morris College, Series 1998A, 6.000%, 5/01/28             
3,000    Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carnegie    3/12 at 100.00    AA–    3,099,330 
     Mellon University, Series 2002, 5.125%, 3/01/32             
1,235    Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Robert    2/16 at 100.00    Baa3    1,184,254 
     Morris University, Series 2006A, 4.750%, 2/15/26             
2,000    Chester County Industrial Development Authority, Pennsylvania, Educational Facilities Revenue    1/12 at 100.00    AAA    2,054,900 
     Bonds, Westtown School, Series 2002, 5.000%, 1/01/26 – AMBAC Insured             
2,195    Cumberland County, Pennsylvania, Municipal Authority College Revenue Bonds, Dickinson College,    5/17 at 100.00    AAA    2,140,366 
     Series 2007GG-1, 4.500%, 5/01/37 – MBIA Insured             
3,000    Delaware County Authority, Pennsylvania, Revenue Bonds, Haverford College, Series 2000,    11/10 at 101.00    AA    3,183,570 
     5.750%, 11/15/29             
    Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2006:             
1,710     5.000%, 8/01/23 – AMBAC Insured    8/16 at 100.00    AAA    1,800,510 
840     5.000%, 8/01/24 – AMBAC Insured    8/16 at 100.00    AAA    883,184 
790    Erie Higher Education Building Authority, Pennsylvania, College Revenue Bonds, Gannon    5/17 at 100.00    AA    790,245 
     University, Series 2007-GG3, 5.000%, 5/01/32 – RAAI Insured             
1,000    Harveys Lake General Municipal Authority, Pennsylvania, College Revenue Bonds, College of    11/09 at 100.00    A    1,027,790 
     Misericordia Project, Series 1999, 6.000%, 5/01/19 – ACA Insured             
    Indiana County Industrial Development Authority, Pennsylvania, Revenue Bonds, Student             
    Cooperative Association Inc./Indiana University of Pennsylvania – Student Union Project,             
    Series 1999B:             
815     0.000%, 11/01/15 – AMBAC Insured    No Opt. Call    AAA    576,637 
815     0.000%, 11/01/16 – AMBAC Insured    No Opt. Call    AAA    549,457 
815     0.000%, 11/01/17 – AMBAC Insured    No Opt. Call    AAA    523,369 
815     0.000%, 11/01/18 – AMBAC Insured    No Opt. Call    AAA    497,941 
815     0.000%, 11/01/19 – AMBAC Insured    No Opt. Call    AAA    473,075 
1,515    Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Arcadia    4/16 at 100.00    AA    1,379,362 
     University, Series 2006, 4.500%, 4/01/30 – RAAI Insured             
355    New Wilmington, Pennsylvania, Revenue, Westminster College, Series 2007G, 5.125%, 5/01/33 –    5/17 at 100.00    AA    358,500 
     RAAI Insured             
8,000    Pennsylvania Higher Education Assistance Agency, Capital Acquisition Revenue Refunding Bonds,    11/11 at 100.00    AAA    8,224,240 
     Series 2001, 5.000%, 12/15/30 – MBIA Insured             
5,000    Pennsylvania Higher Educational Facilities Authority, General Revenue Bonds, State System of    6/12 at 100.00    Aaa    5,188,850 
     Higher Education, Series 2002W, 5.000%, 6/15/19 – AMBAC Insured             
1,435    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Allegheny College, Series    5/16 at 100.00    A–    1,426,806 
     2006, 4.750%, 5/01/31             
5,000    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Moravian College, Series    7/11 at 100.00    AA    5,091,500 
     2001, 5.375%, 7/01/31 – RAAI Insured             
3,870    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Temple University, First    4/16 at 100.00    AAA    4,085,559 
     Series of 2006, 5.000%, 4/01/21 – MBIA Insured             
320    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson    1/13 at 100.00    A1    329,853 
     University, Series 2002, 5.000%, 1/01/20             
2,000    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of    7/15 at 100.00    AA    2,066,880 
     Pennsylvania, Series 2005C, 5.000%, 7/15/38             
2,945    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Ursinus College, Series    7/13 at 100.00    AA    3,058,059 
     2003, 5.375%, 1/01/20 – RAAI Insured             
6,500    Pennsylvania State University, General Revenue Bonds, Series 2005, 5.000%, 9/01/29 (UB)    9/15 at 100.00    AA    6,760,390 
510    Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Franklin Towne    1/17 at 100.00    BBB    515,829 
     Charter High School, Series 2006A, 5.250%, 1/01/27             
710    Southcentral Pennsylvania General Authority, Revenue Bonds, York College Association of    5/17 at 100.00    AAA    736,298 
     Independent Colleges, Series 2007, 5.000%, 5/01/37 – XLCA Insured             
2,830    Swarthmore Borough Authority, Pennsylvania, Swarthmore College Revenue Bonds, Series 1998,    9/08 at 100.00    Aaa    2,860,875 
     5.000%, 9/15/28             
1,665    Union County, Higher Education Facilities Financing Authority, Pennsylvania, Revenue Bonds,    4/13 at 100.00    Aa2    1,753,362 
     Bucknell University, Series 2002A, 5.250%, 4/01/18             
64,700    Total Education and Civic Organizations            64,880,311 
    Health Care – 12.1% (7.4% of Total Investments)             
1,555    Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Ohio Valley    4/15 at 100.00    Baa2    1,538,999 
     General Hospital, Series 2005A, 5.125%, 4/01/35             
1,115    Erie County Hospital Authority, Pennsylvania, Revenue Bonds, Hamot Health Foundation, Series    11/12 at 100.00    AAA    1,175,912 
     2002, 5.250%, 11/01/15 – AMBAC Insured             
1,280    Erie County Hospital Authority, Pennsylvania, Revenue Bonds, Hamot Health Foundation, Series    11/17 at 100.00    AAA    1,319,795 
     2007, 5.000%, 11/01/37 – CIFG Insured             
    Lancaster County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, The Lancaster             
    General Hospital Project, Series 2007A:             
1,890     5.000%, 3/15/26    3/17 at 100.00    AA–    1,918,029 
750     5.000%, 3/15/31    3/17 at 100.00    AA–    755,948 
800    Lancaster County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, The Lancaster    3/17 at 100.00    AA–    731,360 
     General Hospital Project, Series 2007B, 4.500%, 3/15/36             
1,250    Lehigh County General Purpose Authority, Pennsylvania, Revenue Bonds, Good Shepherd Group,    11/14 at 100.00    A    1,301,775 
     Series 2004A, 5.500%, 11/01/24             
710    Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center,    1/17 at 100.00    BBB+    703,575 
     Series 2007, 5.125%, 1/01/37             
9,000    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, UPMC Health System,    1/11 at 101.00    AA–    9,614,789 
     Series 2001A, 6.000%, 1/15/31             
    Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital             
    Revenue Bonds, Children’s Hospital of Philadelphia, Series 2007:             
1,500     4.500%, 7/01/33    7/17 at 100.00    AA    1,429,560 
3,250     4.500%, 7/01/37    7/17 at 100.00    AA    3,087,988 
1,225    Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital    11/23 at 100.00    BBB    1,227,254 
     Revenue Bonds, Temple University Hospital, Series 1993A, 6.625%, 11/15/23             
1,615    Sayre Health Care Facility Authority, Pennsylvania, Revenue Bonds, Latrobe Area Hospital,    7/12 at 100.00    AAA    1,707,572 
     Series 2002A, 5.250%, 7/01/13 – AMBAC Insured             
    Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2005:             
525     5.000%, 12/01/27 – RAAI Insured    12/15 at 100.00    AA    529,058 
370     5.000%, 12/01/29 – RAAI Insured    12/15 at 100.00    AA    371,602 
1,500    West Shore Area Hospital Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds,    1/12 at 100.00    BBB    1,579,785 
     Holy Spirit Hospital of the Sisters of Christian Charity Project, Series 2001, 6.250%, 1/01/32             
28,335    Total Health Care            28,993,001 
    Housing/Multifamily – 4.1% (2.5% of Total Investments)             
5,000    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Slippery Rock University    7/17 at 100.00    AAA    5,175,750 
     Foundation Inc., Series 2007A, 5.000%, 7/01/39 – XLCA Insured             
3,300    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Slippery Rock University    7/15 at 100.00    AAA    3,403,191 
     Foundation Inc., Student Housing Project, Series 2005A, 5.000%, 7/01/37 – XLCA Insured             
800    Philadelphia Authority for Industrial Development, Pennsylvania, Multifamily Housing Revenue    5/15 at 102.00    Baa2    822,720 
     Bonds, Presbyterian Homes Germantown – Morrisville Project, Series 2005A, 5.625%, 7/01/35             
355    Pittsburgh Urban Redevelopment Authority, Pennsylvania, Mortgage Revenue Bonds, Series 1992C,    8/07 at 100.00    A2    355,391 
     7.125%, 8/01/13 (Alternative Minimum Tax)             
9,455    Total Housing/Multifamily            9,757,052 
    Housing/Single Family – 9.4% (5.7% of Total Investments)             
10,000    Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 1995A,    10/15 at 100.00    AA+    9,760,699 
     4.900%, 10/01/37 (Alternative Minimum Tax)             
2,750    Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-93A,    4/15 at 100.00    AA+    2,752,420 
     4.950%, 10/01/26 (Alternative Minimum Tax)             
3,500    Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-94A,    10/15 at 100.00    AA+    3,521,770 
     5.150%, 10/01/37 (Alternative Minimum Tax)             
1,355    Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2007-97A,    10/16 at 100.00    AA+    1,287,711 
     4.600%, 10/01/27 (Alternative Minimum Tax)             
2,130    Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2007-98A,    10/16 at 100.00    AA+    2,077,453 
     4.850%, 10/01/31 (Alternative Minimum Tax)             
960    Pittsburgh Urban Redevelopment Authority, Pennsylvania, Mortgage Revenue Bonds, Series 1997A,    10/07 at 102.00    AAA    968,707 
     6.250%, 10/01/28 (Alternative Minimum Tax)             
2,140    Pittsburgh Urban Redevelopment Authority, Pennsylvania, Mortgage Revenue Bonds, Series 2001B,    10/11 at 100.00    AAA    2,176,615 
     5.450%, 10/01/32 (Alternative Minimum Tax)             
22,835    Total Housing/Single Family            22,545,375 
    Industrials – 4.4% (2.7% of Total Investments)             
5,000    Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Amtrak    5/11 at 101.00    A3    5,238,600 
     Project, Series 2001A, 6.375%, 11/01/41 (Alternative Minimum Tax)             
5,000    Pennsylvania Industrial Development Authority, Economic Development Revenue Bonds, Series    No Opt. Call    AAA    5,362,700 
     2002, 5.500%, 7/01/12 – AMBAC Insured             
10,000    Total Industrials            10,601,300 
    Long-Term Care – 2.9% (1.8% of Total Investments)             
1,330    Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social    1/17 at 100.00    N/R    1,301,312 
     Ministries, Series 2007, 5.000%, 1/01/36             
1,500    Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Presbyterian Homes Inc.,    12/12 at 100.00    AA    1,507,920 
     Series 2003A, 5.000%, 12/01/26 – RAAI Insured             
    Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Masonic Homes             
    Project, Series 2006:             
1,550     5.000%, 11/01/26    11/16 at 100.00    A+    1,565,903 
840     5.000%, 11/01/36    11/16 at 100.00    A+    838,656 
230    Philadelphia Authority for Industrial Development, Pennsylvania, Health Care Facilities    5/08 at 102.00    N/R    232,831 
     Revenue Bonds, Paul’s Run, Series 1998A, 5.875%, 5/15/28             
1,500    Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia    7/11 at 101.00    AAA    1,560,480 
     Corporation for the Aging Project, Series 2001B, 5.250%, 7/01/26 – AMBAC Insured             
6,950    Total Long-Term Care            7,007,102 
    Materials – 1.3% (0.8% of Total Investments)             
1,260    Bradford County Industrial Development Authority, Pennsylvania, Solid Waste Disposal Revenue    12/15 at 100.00    BBB    1,269,488 
     Bonds, International Paper Company, Series 2005B, 5.200%, 12/01/19 (Alternative Minimum Tax)             
1,750    Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds,    11/08 at 102.00    N/R    1,807,978 
     National Gypsum Company, Series 1997B, 6.125%, 11/01/27 (Alternative Minimum Tax)             
3,010    Total Materials            3,077,466 
    Tax Obligation/General – 29.7% (18.1% of Total Investments)             
1,800    Allegheny County, Pennsylvania, General Obligation Bonds, Series 2000C-53, 5.250%, 11/01/20 –    5/11 at 100.00    AAA    1,875,294 
     FGIC Insured             
2,200    Central Bucks County School District, Pennsylvania, General Obligation Bonds, Series 2003,    5/13 at 100.00    Aaa    2,283,754 
     5.000%, 5/15/23 – MBIA Insured             
2,345    Delaware County, Pennsylvania, General Obligation Bonds, Series 2005, 5.000%, 10/01/20    10/15 at 100.00    AA    2,470,106 
6,000    Delaware Valley Regional Finance Authority, Pennsylvania, Local Government Revenue Bonds,    No Opt. Call    Aa2    6,696,120 
     Series 2002, 5.750%, 7/01/17             
7,350    Erie City School District, Erie County, Pennsylvania, General Obligation Bonds, Series 2000,    No Opt. Call    AAA    2,453,577 
     0.000%, 9/01/30 – AMBAC Insured             
7,500    Montgomery County, Pennsylvania, General Obligation Bonds, Series 1999, 5.000%, 7/15/24    7/09 at 100.00    Aaa    7,625,475 
1,000    New Castle Area School District, Lawrence County, Pennsylvania, General Obligation Bonds,    3/10 at 100.00    AAA    1,041,110 
     Series 2000, 5.600%, 3/01/25 – MBIA Insured             
4,830    Pennsylvania State, General Obligation Bonds, Second Series 2007, Residuals 1986, 6.426%, 3/01/27 (IF)    3/17 at 100    AA    5,080,774 
1,500    Pennsylvania, General Obligation Bonds, Second Series 2005, 5.000%, 1/01/18    1/16 at 100.00    AA    1,594,680 
4,000    Pennsylvania, General Obligation Bonds, Series 2006-1, 5.000%, 10/01/18    10/16 at 100.00    AA    4,268,440 
1,500    Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2007A, 5.000%,    No Opt. Call    AAA    1,607,535 
     6/01/34 – FGIC Insured             
3,000    Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Refunding    No Opt. Call    AAA    3,312,870 
     Bonds, Series 2002A, 5.500%, 9/01/15 – FSA Insured             
2,475    Pittsburgh, Pennsylvania, General Obligation Bonds, Series 2006B, 5.250%, 9/01/16 – FSA Insured    No Opt. Call    AAA    2,687,380 
1,070    Schuylkill Valley School District, Berks County, Pennsylvania, General Obligation Bonds,    4/16 at 100.00    Aaa    1,127,213 
     Series 2006A, 5.000%, 4/01/22 – FGIC Insured             
445    State Public School Building Authority, Pennsylvania, School Revenue Bonds, Conneaut School    11/13 at 100.00    AAA    472,559 
     District, Series 2003, 5.250%, 11/01/21 – FGIC Insured             
21,000    State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia    No Opt. Call    AAA    23,864,820 
     School District, Series 2003, 5.500%, 6/01/28 – FSA Insured (UB)             
1,465    Stroudsburg Area School District, Monroe County, Pennsylvania, General Obligation Bonds,    4/12 at 100.00    AAA    1,518,824 
     Series 2001A, 5.000%, 4/01/18 – FSA Insured             
1,600    Woodland Hills School District, Allegheny County, Pennsylvania, General Obligation Bonds,    9/15 at 100.00    AAA    1,703,040 
     Series 2005D, 5.000%, 9/01/17 – FSA Insured             
71,080    Total Tax Obligation/General            71,683,571 
    Tax Obligation/Limited – 15.8% (9.7% of Total Investments)             
3,500    Allegheny County Port Authority, Pennsylvania, Special Transportation Revenue Bonds, Series    3/11 at 101.00    AAA    3,596,425 
     2001, 5.000%, 3/01/29 – FGIC Insured             
8,725    Pennsylvania Intergovernmental Cooperative Authority, Special Tax Revenue Refunding Bonds,    6/09 at 100.00    AAA    8,781,973 
     Philadelphia Funding Program, Series 1999, 4.750%, 6/15/23 – FGIC Insured             
5,000    Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of    12/16 at 100.00    AAA    5,188,500 
     Philadelphia, Series 2006B, 5.000%, 6/01/33 – FSA Insured (UB)             
100    Pennsylvania Turnpike Commission, Registration Fee Revenue Bonds, Series 2005A, 5.250%,    No Opt. Call    AAA    109,440 
     7/15/16 – FSA Insured             
10,935    Philadelphia Authority for Industrial Development, Pennsylvania, Lease Revenue Bonds, Series    10/11 at 101.00    AAA    11,372,508 
     2001B, 5.250%, 10/01/30 – FSA Insured             
2,700    Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2003B, 5.250%,    11/13 at 100.00    AAA    2,859,381 
     11/15/17 – FSA Insured             
4,000    Pittsburgh and Allegheny Counties Public Auditorium Authority, Pennsylvania, Sales Tax Revenue    8/09 at 101.00    AAA    4,082,520 
     Bonds, Regional Asset District, Series 1999, 5.000%, 2/01/29 – AMBAC Insured             
1,090    Pittsburgh Urban Redevelopment Authority, Pennsylvania, Tax Increment Financing District    5/09 at 100.00    A2    1,122,558 
     Bonds, Center Triangle Project, Series 1999A, 6.100%, 5/01/19             
3,140    Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A,    No Opt. Call    AAA    957,669 
     0.000%, 7/01/32 – FGIC Insured             
39,190    Total Tax Obligation/Limited            38,070,974 
    Transportation – 12.5% (7.6% of Total Investments)             
630    Delaware River Joint Toll Bridge Commission, Pennsylvania and New Jersey, Revenue Bonds,    7/13 at 100.00    A2    664,820 
     Series 2003, 5.250%, 7/01/17             
2,035    Lehigh-Northampton Airport Authority, Pennsylvania, Airport Revenue Bonds, Lehigh Valley    5/10 at 100.00    Aaa    2,126,209 
     Airport System, Series 2000A, 6.000%, 5/15/30 – MBIA Insured (Alternative Minimum Tax)             
5,400    Pennsylvania Economic Development Financing Authority, Revenue Bonds, Amtrak 30th Street    6/12 at 102.00    A    5,742,468 
     Station Parking Garage, Series 2002, 5.800%, 6/01/23 – ACA Insured (Alternative Minimum Tax)             
2,200    Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2001R, 5.000%, 12/01/30 –    12/11 at 101.00    AAA    2,272,380 
     AMBAC Insured             
    Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A:             
3,820     5.000%, 12/01/22 – AMBAC Insured    6/16 at 100.00    AAA    4,030,406 
2,930     5.000%, 12/01/24 – AMBAC Insured    6/16 at 100.00    AAA    3,080,338 
5,000    Philadelphia Airport System, Pennsylvania, Revenue Bonds, Series 2001B, 5.250%, 6/15/31 – FGIC    6/11 at 101.00    AAA    5,142,350 
     Insured (Alternative Minimum Tax)             
3,750    Philadelphia Airport System, Pennsylvania, Revenue Bonds, Series 2005A, 4.750%, 6/15/35 – MBIA    6/15 at 100.00    AAA    3,675,938 
     Insured (Alternative Minimum Tax)             
3,250    Philadelphia Parking Authority, Pennsylvania, Airport Parking Revenue Bonds, Series 1999,    9/09 at 101.00    AAA    3,350,360 
     5.250%, 9/01/29 – FSA Insured             
29,015    Total Transportation            30,085,269 
    U.S. Guaranteed – 26.1% (15.9% of Total Investments) (4)             
5,045    Allegheny County Industrial Development Authority, Pennsylvania, Revenue Bonds, Guaranteed    11/12 at 100.00    AAA    5,314,453 
     County Building Project, Series 2002A, 5.000%, 11/01/22 (Pre-refunded 11/01/12) – MBIA Insured             
3,550    Allegheny County, Pennsylvania, General Obligation Bonds, Series 2000C-52, 5.250%, 11/01/23    5/11 at 100.00    AAA    3,728,743 
     (Pre-refunded 5/01/11) – FGIC Insured             
1,320    Allegheny County, Pennsylvania, General Obligation Refunding Bonds, Series 2000C-53, 5.250%,    5/11 at 100.00    AAA    1,386,462 
     11/01/20 (Pre-refunded 5/01/11) – FGIC Insured             
5,000    Erie, Pennsylvania, Water Authority, Water Revenue Bonds, Series 2001A, 5.200%, 12/01/30    12/11 at 100.00    AAA    5,275,950 
     (Pre-refunded 12/01/11) – MBIA Insured             
6,275    Hempfield Area School District, Westmoreland County, Pennsylvania, General Obligation Bonds,    2/12 at 100.00    AAA    6,676,663 
     Series 2002, 5.375%, 2/15/18 (Pre-refunded 2/15/12) – FGIC Insured             
2,500    Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, St. Luke’s    8/13 at 100.00    Baa1 (4)    2,682,475 
     Hospital of Bethlehem, Series 2003, 5.375%, 8/15/33 (Pre-refunded 8/15/13)             
680    Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson    1/13 at 100.00    A1 (4)    716,693 
     University, Series 2002, 5.000%, 1/01/20 (Pre-refunded 1/01/13)             
3,650    Pennsylvania Turnpike Commission, Registration Fee Revenue Bonds, Series 2001, 5.000%, 7/15/41    7/11 at 101.00    AAA    3,841,260 
     (Pre-refunded 7/15/11) – AMBAC Insured             
725    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 –    No Opt. Call    AAA    853,702 
     MBIA Insured (ETM)             
3,400    Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2002B, 5.625%,    8/12 at 100.00    AAA    3,676,114 
     8/01/18 (Pre-refunded 8/01/12) – FGIC Insured             
    Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2001A:             
5,525     5.375%, 11/01/20 (Pre-refunded 11/01/12) – FGIC Insured    11/12 at 100.00    AAA    5,928,491 
3,185     5.000%, 11/01/31 (Pre-refunded 11/01/12) – FGIC Insured    11/12 at 100.00    Aaa    3,361,290 
6,100    Plum Borough School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series    9/11 at 100.00    AAA    6,416,895 
     2001, 5.250%, 9/15/30 (Pre-refunded 9/15/11) – FGIC Insured             
960    St. Mary Hospital Authority, Pennsylvania, Health System Revenue Bonds, Catholic Health East,    11/14 at 100.00    A1 (4)    1,043,194 
     Series 2004B, 5.375%, 11/15/34 (Pre-refunded 11/15/14)             
2,000    Sto Rox School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series    12/10 at 100.00    AAA    2,121,160 
     2000, 5.800%, 6/15/30 (Pre-refunded 12/15/10) – MBIA Insured             
415    Upper Merion Area School District, Montgomery County, Pennsylvania, General Obligation Bonds,    2/13 at 100.00    Aa2 (4)    443,577 
     Series 2003, 5.250%, 2/15/19 (Pre-refunded 2/15/13)             
3,000    Warrington Township Municipal Authority, Bucks County, Pennsylvania, Water and Sewer Revenue    11/15 at 100.00    AAA    3,547,620 
     Bonds, Series 1991, 7.100%, 12/01/21 (Pre-refunded 11/15/15) – FGIC Insured             
4,805    West View Borough Municipal Authority, Allegheny County, Pennsylvania, Special Obligation    No Opt. Call    Aaa    5,837,066 
     Bonds, Series 1985A, 9.500%, 11/15/14 (ETM)             
58,135    Total U.S. Guaranteed            62,851,808 
    Utilities – 7.4% (4.5% of Total Investments)             
1,250    Allegheny County Industrial Development Authority, Pennsylvania, Pollution Control Revenue    No Opt. Call    AAA    1,281,800 
     Refunding Bonds, Duquesne Light Company, Series 1999A, 4.350%, 12/01/13 – AMBAC Insured             
1,680    Carbon County Industrial Development Authority, Pennsylvania, Resource Recovery Revenue    No Opt. Call    BBB–    1,746,343 
     Refunding Bonds, Panther Creek Partners Project, Series 2000, 6.650%, 5/01/10 (Alternative             
     Minimum Tax)             
2,430    Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds,    2/15 at 100.00    AAA    2,446,014 
     Pennsylvania Power and Light Company, Series 2005, 4.750%, 2/15/27 – FGIC Insured             
700    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fifth Series 2004A-1,    9/14 at 100.00    AAA    721,217 
     5.000%, 9/01/26 – FSA Insured             
2,000    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Seventeenth Series    7/13 at 100.00    AAA    2,130,000 
     2003, 5.375%, 7/01/19 – FSA Insured             
5,490    Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Seventh Series 1998, 5.000%, 10/01/37 –    10/17 at 100.00    AAA    5,666,394 
     AMBAC Insured (UB)             
3,700    York County Industrial Development Authority, Pennsylvania, Pollution Control Revenue    3/12 at 101.00    Baa1    3,831,165 
     Refunding Bonds, PSEG Power Project, Series 2001A, 5.500%, 9/01/20             
17,250    Total Utilities            17,822,933 
    Water and Sewer – 10.7% (6.5% of Total Investments)             
2,100    Allegheny County Sanitary Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2005A,    12/15 at 100.00    AAA    2,207,940 
     5.000%, 12/01/21 – MBIA Insured             
2,205    Bethlehem Authority, Northhampton and Lehigh Counties, Pennsylvania, Guaranteed Water Revenue    11/14 at 100.00    AAA    2,313,221 
     Bonds, Series 2004, 5.000%, 11/15/20 – FSA Insured             
5,000    Delaware County Industrial Development Authority, Pennsylvania, Water Facilities Revenue    10/12 at 100.00    AAA    5,182,700 
     Bonds, Philadelphia Water Company, Series 2001, 5.350%, 10/01/31 – AMBAC Insured             
     (Alternative Minimum Tax)             
    Delaware County Regional Water Quality Control Authority, Pennsylvania, Sewerage Revenue             
    Bonds, Series 2001A:             
5,325     5.100%, 5/01/20 – FGIC Insured    11/11 at 100.00    AAA    5,534,858 
1,465     5.100%, 5/01/21 – FGIC Insured    11/11 at 100.00    AAA    1,522,736 
1,400    Delaware County Regional Water Quality Control Authority, Pennsylvania, Sewerage Revenue    5/14 at 100.00    Aaa    1,489,754 
     Bonds, Series 2004, 5.250%, 5/01/20 – MBIA Insured             
2,000    Harrisburg Authority, Dauphin County, Pennsylvania, Water Revenue Refunding Bonds, Series    7/14 at 100.00    AAA    2,094,380 
     2004, 5.000%, 7/15/22 – FSA Insured             
1,250    Lancaster Area Sewerage Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2004, 5.000%,    4/14 at 100.00    AAA    1,306,813 
     4/01/20 – MBIA Insured             
1,815    Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2001A, 5.000%,    11/12 at 100.00    AAA    1,862,952 
     11/01/31 – FGIC Insured             
2,150    Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2005A, 5.000%,    7/15 at 100.00    AAA    2,244,880 
     7/01/23 – FSA Insured             
24,710    Total Water and Sewer            25,760,234 
$      385,665    Total Investments (cost $382,864,114) – 163.9%            394,223,695 
    Floating Rate Obligations (10.5)%            (25,330,000) 
    Other Assets Less Liabilities – 1.5%            3,668,827 
    Preferred Shares, at Liquidation Value – (54.9)%            (132,000,000) 
    Net Assets Applicable to Common Shares – 100%           $   240,562,522 

Forward Swaps outstanding at July 31, 2007:                         
        Fund            Fixed Rate            Unrealized 
    Notional    Pay/Receive    Floating Rate    Fixed Rate    Payment    Effective    Termination    Appreciation 
Counterparty    Amount    Floating Rate    Index    (Annualized)    Frequency    Date (5)    Date    (Depreciation) 
JPMorgan    $31,000,000    Receive    SIFM    3.698%    Quarterly    2/04/08    2/02/13    $(54,795) 
SIFM – The daily arithmetic average of the weekly SIFM (The securities Industry and Financial Markets) Municipal Swap Index.         
    The Fund may invest in “zero coupon” securities. A zero coupon security does not pay a regular interest 
    coupon to its holders during the life of the security. Tax-exempt income to the holder of the security comes 
    from accretion of the difference between the original purchase price of the security at issuance and the 
    par value of the security at maturity and is effectively paid at maturity. Such securities are included in the 
    portfolio with a 0.00% coupon rate in their description. The market prices of zero coupon securities 
    generally are more volatile than the market prices of securities that pay interest periodically. 
(1)    All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
    shares unless otherwise noted. 
(2)    Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
    There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
    may be subject to periodic principal paydowns. 
(3)    Ratings: Using the higher of Standard & Poor's or Moody's rating. Ratings below BBB by Standard & 
    Poor's Group or Baa by Moody's Investor Service, Inc. are considered to be below investment grade. 
(4)    Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency 
    securities which ensure the timely payment of principal and interest. Such investments are normally 
    considered to be equivalent to AAA rated securities. 
(5)    Effective date represents the date on which both the Fund and counterparty commence interest 
    payment accruals on each forward swap contract. 
N/R    Not rated. 
(ETM)    Escrowed to maturity. 
(IF)    Inverse floating rate investment. 
(UB)    Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the 
    provisions of SFAS No. 140. 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to the treatment of paydown gains and losses, timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No. 140.

At July 31, 2007, the cost of investments was $357,532,969.

Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2007, were as follows:

Gross unrealized:     
  Appreciation    $13,381,190 
  Depreciation    (2,008,264) 
Net unrealized appreciation (depreciation) of investments    $11,372,926 

Item 2. Controls and Procedures.

  1. 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") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) 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.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT Attached hereto.


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)         Nuveen Pennsylvania Investment Quality Municipal Fund        

By (Signature and Title)*          /s/ Kevin J. McCarthy                    
                                                    Kevin J. McCarthy
                                                    Vice President and Secretary

Date         September 28, 2007        

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 (Signature and Title)*         /s/ Gifford R. Zimmerman                    
                                                   Gifford R. Zimmerman
                                                   Chief Administrative Officer (principal executive officer) 

Date         September 28, 2007        

By (Signature and Title)*         /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                   Vice President and Controller (principal financial officer) 

Date        September 28, 2007        

* Print the name and title of each signing officer under his or her signature.