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UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-09417

Name of Fund: The BlackRock Pennsylvania Strategic Municipal Trust (BPS)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

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

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

Date of fiscal year end: 04/30/2011

Date of reporting period: 07/31/2010

Item 1 – Schedule of Investments



Schedule of Investments July 31, 2010 (Unaudited)

BlackRock Pennsylvania Strategic Municipal Trust (BPS)
(Percentages shown are based on Net Assets)

    Par   
Municipal Bonds    (000)  Value 
Pennsylvania — 106.8%       
County/City/Special District/School       
District — 12.7%       
Delaware Valley Regional Financial       
Authority, RB, Series A (AMBAC),       
5.50%, 8/01/28  $ 1,500  $ 1,603,110 
Marple Newtown School District, GO     
(AGM), 5.00%, 6/01/31    600  635,550 
Owen J. Roberts School District, GO,     
4.75%, 11/15/25    700  746,396 
Philadelphia School District, GO,       
Series E, 6.00%, 9/01/38    100  108,237 
Scranton School District Pennsylvania,     
GO, Series A (AGM), 5.00%, 7/15/38  500  514,725 
      3,608,018 
Corporate — 2.5%       
Pennsylvania Economic Development     
Financing Authority, RB, Aqua       
Pennsylvania Inc. Project, Series A,     
AMT, 6.75%, 10/01/18    600  697,314 
Education — 15.4%       
Adams County IDA, Refunding RB,       
Gettysburg College:       
5.00%, 8/15/24    100  108,202 
5.00%, 8/15/25    100  107,260 
4.50%, 8/15/27    140  142,033 
Cumberland County Municipal Authority,     
RB, AICUP Financing Program,       
Dickinson College Project, 5.00%,       
11/01/39    200  197,560 
Delaware County Authority, RB,       
Haverford College:       
5.00%, 11/15/35    415  441,747 
5.00%, 11/15/40    300  318,096 
Delaware County Authority       
Pennsylvania, RB, Villanova University,     
5.25%, 12/01/31    100  107,077 
Lancaster Higher Education Authority,     
RB, Franklin & Marshall College       
Project, 5.00%, 4/15/37    500  510,220 
Pennsylvania Higher Educational       
Facilities Authority, RB:       
Drexel University, Series A (NPFGC),     
5.00%, 5/01/37    250  256,710 
Thomas Jefferson University, 5.00%,     
3/01/40    1,000  1,032,250 
Swarthmore Borough Authority,       
Refunding RB, Series A, 4.30%,       
9/15/28    285  291,242 

 

    Par   
Municipal Bonds    (000)  Value 
Pennsylvania (continued)       
Education (concluded)       
University of Pittsburgh Pennsylvania,     
RB, Capital Project, Series B, 5.00%,     
9/15/28  $ 350  $ 383,050 
Wilkes-Barre Finance Authority,       
Refunding RB, Wilkes University       
Project, 5.00%, 3/01/37    500  465,265 
      4,360,712 
Health — 42.8%       
Allegheny County Hospital Development     
Authority, Refunding RB, Health       
System, West Penn, Series A:       
5.00%, 11/15/28    250  196,668 
5.38%, 11/15/40    470  348,890 
Berks County Municipal Authority,       
Refunding RB, Reading Hospital &       
Medical Center Project, Series A-3,     
5.50%, 11/01/31    500  530,080 
Bucks County IDA, Refunding RB,       
Pennswood Village Project, Series A,     
6.00%, 10/01/12 (a)    1,150  1,285,919 
Cumberland County Municipal Authority,     
RB, Diakon Lutheran, 6.38%,       
1/01/39    500  513,220 
Dauphin County General Authority,       
Refunding RB, Pinnacle Health       
System Project, Series A, 6.00%,       
6/01/29    500  532,015 
Franklin County IDA Pennsylvania, RB,     
Chambersburg Hospital Project,       
5.38%, 7/01/42    250  249,420 
Lehigh County General Purpose       
Authority, Refunding RB, Hospital,       
Saint Luke's Bethlehem, 5.38%,       
8/15/13 (a)    2,500  2,857,625 
Lycoming County Authority, Refunding     
RB, Susquehanna Health System       
Project, Series A, 5.75%, 7/01/39    210  213,948 
Monroe County Hospital Authority       
Pennsylvania, Refunding RB, Hospital,     
Pocono Medical Center, 5.13%,       
1/01/37    345  338,376 
Montgomery County Higher Education &     
Health Authority, Refunding RB,       
Abington Memorial Hospital, Series A,     
5.13%, 6/01/33    370  370,625 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated
according to the following list:

AGC  Assured Guaranty Corp.  GO  General Obligation Bonds 
AGM  Assured Guaranty Municipal Corp.  HFA  Housing Finance Agency 
AMBAC  American Municipal Bond Assurance Corp.  IDA  Industrial Development Authority 
AMT  Alternative Minimum Tax (subject to)  NPFGC  National Public Finance Guarantee Corp. 
CAB  Capital Appreciation Bonds  RB  Revenue Bonds 
FHA  Federal Housing Administration     

 

BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST

JULY 31, 2010

1



Schedule of Investments(continued)

BlackRock Pennsylvania Strategic Municipal Trust (BPS)
(Percentages shown are based on Net Assets)

    Par   
Municipal Bonds    (000)  Value 
Pennsylvania (continued)       
Health (concluded)       
Montgomery County IDA Pennsylvania,     
RB:       
Acts Retirement Life Community,     
5.25%, 11/15/28  $ 1,250  $ 1,198,838 
Acts Retirement Life Community,     
Series A, 4.50%, 11/15/36    400  323,356 
New Regional Medical Center       
Project (FHA), 5.38%, 8/01/38    535  553,195 
Pennsylvania Higher Educational       
Facilities Authority, RB, University of     
Pittsburgh Medical Center, Series E,     
5.00%, 5/15/31    1,000  1,010,730 
South Fork Municipal Authority,       
Refunding RB, Conemaugh Valley       
Memorial, Series B (AGC), 5.38%,       
7/01/35    245  249,993 
Southcentral General Authority       
Pennsylvania, Refunding RB,       
Wellspan Health Obligor Group,       
Series A, 6.00%, 6/01/29    1,250  1,376,312 
      12,149,210 
Housing — 10.0%       
Pennsylvania HFA, RB:       
Series 94-A, AMT, 5.10%,       
10/01/31    150  150,869 
Series 95-A, AMT, 4.90%,       
10/01/37    1,000  991,030 
Series 103C, 5.40%, 10/01/33    250  261,457 
Pennsylvania HFA, Refunding RB, AMT:     
Series 97A, 4.65%, 10/01/31    1,300  1,241,890 
Series 99A, 5.15%, 4/01/38    200  206,900 
      2,852,146 
State — 2.0%       
Commonwealth of Pennsylvania, GO,     
First Series, 5.00%, 3/15/29    275  299,909 
State Public School Building Authority,     
Refunding RB, Harrisburg School       
District Project, Series A (AGC), 5.00%,     
11/15/33    250  260,823 
      560,732 
Transportation — 13.9%       
Delaware River Port Authority, RB,       
Series D, 5.00%, 1/01/40    750  760,665 
Pennsylvania Economic Development     
Financing Authority, RB, Amtrak       
Project, Series A, AMT:       
6.25%, 11/01/31    1,000  1,014,600 
6.38%, 11/01/41    1,000  1,013,320 
Pennsylvania Turnpike Commission, RB:     
CAB, Sub-Series E, 6.48%,       
12/01/38 (b)    175  126,100 
Series A (AMBAC), 5.25%,       
12/01/32    870  885,442 
Sub-Series B-1, 5.00%, 12/01/37  150  150,657 
      3,950,784 
Utilities — 7.5%       
City of Philadelphia Pennsylvania, RB:     
Series A, 5.25%, 1/01/36    100  104,208 
Series C (AGM), 5.00%, 8/01/40 (c)  350  356,622 

 

    Par   
Municipal Bonds    (000)  Value 
Pennsylvania (concluded)       
Utilities (concluded)       
Delaware County IDA Pennsylvania, RB,     
Water Facilities, AMT (NPFGC), 6.00%,     
6/01/29  $ 1,250  $ 1,251,200 
Montgomery County IDA Pennsylvania,     
RB, Aqua Pennsylvania Inc. Project,     
Series A, AMT, 5.25%, 7/01/42    300  304,647 
Pennsylvania Economic Development     
Financing Authority, RB, Philadelphia     
Biosolids Facility, 6.25%, 1/01/32  100  105,451 
      2,122,128 
Total Municipal Bonds in Pennsylvania    30,301,044 
Multi-State — 12.6%       
Diversified Financial Services — 12.6%     
MuniMae TE Bond Subsidiary LLC,       
7.50%, 6/30/49 (d)(e)(f)    3,842  3,562,647 
Total Municipal Bonds in Multi-State      3,562,647 
Puerto Rico — 18.3%       
State — 15.8%       
Commonwealth of Puerto Rico, GO,       
Refunding, Sub-Series C-7 (NPFGC),     
6.00%, 7/01/27    1,385  1,479,263 
Puerto Rico Public Buildings Authority,     
Refunding RB, Government Facilities,     
Series N, 5.00%, 7/01/37    300  287,574 
Puerto Rico Public Finance Corp., RB,     
Commonwealth Appropriation,       
Series E, 5.50%, 2/01/12 (a)    1,495  1,607,484 
Puerto Rico Sales Tax Financing Corp.,     
RB, First Sub-Series A, 6.38%,       
8/01/39    1,000  1,104,040 
      4,478,361 
Utilities — 2.5%       
Puerto Rico Aqueduct & Sewer Authority,     
RB, Senior Lien, Series A, 6.00%,       
7/01/38    200  208,948 
Puerto Rico Electric Power Authority, RB,     
Series WW, 5.50%, 7/01/38    500  511,240 
      720,188 
Total Municipal Bonds in Puerto Rico    5,198,549 
U.S. Virgin Islands — 0.3%       
State — 0.3%       
Virgin Islands Public Finance Authority,     
RB, Senior Lien, Capital Projects,       
Series A-1, 5.00%, 10/01/39    100  97,300 
Total Municipal Bonds in U.S. Virgin Islands    97,300 
Total Municipal Bonds – 138.0%      39,159,540 

 

2 BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST

JULY 31, 2010



Schedule of Investments(continued)

BlackRock Pennsylvania Strategic Municipal Trust (BPS)
(Percentages shown are based on Net Assets)

Municipal Bonds Transferred to Tender  Par   
Option Bond Trusts (g)  (000)  Value 
Pennsylvania – 28.9%     
Education — 5.5%     
Pennsylvania Higher Educational     
Facilities Authority, Refunding RB,     
Trustees of the University of     
Pennsylvania, Series C, 4.75%,     
7/15/35  $ 500  $ 507,045 
Pennsylvania State University, RB,     
5.00%, 3/01/40  1,000  1,065,000 
    1,572,045 
Health — 9.0%     
Geisinger Authority, RB, Series A:     
5.13%, 6/01/34  500  517,015 
5.25%, 6/01/39  1,000  1,036,400 
Philadelphia Hospitals & Higher     
Education Facilities Authority,     
Refunding RB, Jefferson Health     
System, Series B, 5.00%, 5/15/40  1,000  1,000,690 
    2,554,105 
Housing — 3.5%     
Pennsylvania HFA, Refunding RB:     
Series 96-A, AMT, 4.70%, 10/01/37  500  474,395 
Series 105C, 5.00%, 10/01/39  500  511,620 
    986,015 
State — 6.9%     
Commonwealth of Pennsylvania, GO,     
First Series, 5.00%, 3/15/28  825  903,278 
Pennsylvania Turnpike Commission, RB,     
Series C of 2003 Pennsylvania     
Turnpike (NPFGC), 5.00%, 12/01/32  1,000  1,042,140 
    1,945,418 
Transportation — 4.0%     
City of Philadelphia Pennsylvania, RB,     
Series A, AMT (AGM), 5.00%, 6/15/37  1,150  1,126,621 
Total Municipal Bonds Transferred to     
Tender Option Bond Trusts – 28.9%    8,184,204 
Total Long-Term Investments     
(Cost – $46,291,378) – 166.9%    47,343,744 
Short-Term Securities  Shares   
BIF Pennsylvania Municipal Money     
Fund, 0.00% (h)(i)  1,710,765  1,710,765 
Total Short-Term Securities     
(Cost – $1,710,765) – 6.0%    1,710,765 

 

  Value 
Total Investments   
(Cost – $48,002,143*) – 172.9%  $ 49,054,509 
Liabilities in Excess of Other Assets – (0.8)%  (227,059) 
Liability for Trust Certificates, Including Interest   
Expense and Fees Payable – (14.6)%  (4,126,911) 
Preferred Shares, at Redemption Value – (57.5)%  (16,325,762) 
Net Assets Applicable to Common Shares – 100.0%  $ 28,374,777 

 

* The cost and unrealized appreciation (depreciation) of investments as of
July 31, 2010, as computed for federal income tax purposes, were as

Aggregate follows: cost  $ 46,073,540 
Gross unrealized appreciation  $ -- 
Gross Net unrealized unrealized depreciation depreciation  $ (1,143,786)                       (1,143,786) 

 

(a) US government securities, held in escrow, are used to pay interest on this
security as well as to retire the bond in full at the date indicated, typically
at a premium to par.
(b) Represents a step-up bond that pays an initial coupon rate for the first
period and then a higher coupon rate for the following periods. Rate
shown reflects the current yield as of report date.
(c) When-issued security. Unsettled when-issued transactions were as
follows:

    Unrealized 
Counterparty  Value  Appreciation 
Citigroup Global Securities, Inc.  $ 356,622   $ 287 

 

(d) Security exempt from registration under Rule 144A of the Securities Act
of 1933. These securities may be resold in transactions exempt from
registration to qualified institutional investors.
(e) Security represents a beneficial interest in a trust. The collateral
deposited into the trust is federally tax-exempt revenue bonds issued by
various state or local governments, or their respective agencies or
authorities. The security is subject to remarketing prior to its stated
maturity.
(f) Variable rate security. Rate shown is as of report date.
(g) Securities represent bonds transferred to a tender option bond trust in
exchange for which the Trust acquired residual interest certificates.
These securities serve as collateral in a financing transaction.
(h) Investments in companies considered to be an affiliate of the Trust
during the period, for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, as amended, were as follows:

  Shares Held    Shares Held   
  at April 30,  Net  at July 31,   
Affiliate  2010  Activity  2010  Income 
BIF Pennsylvania         
Municipal Money         
Fund  455,164  1,255,601  1,710,765  -- 

 

(i) Represents the current yield as of report date.

• For Trust compliance purposes, the Trust’s sector classifications refer to
any one or more of the sector sub-classifications used by one or more
widely recognized market indexes or rating group indexes, and/or as
defined by Trust management. This definition may not apply for purposes
of this report, which may combine such sector sub-classifications for
reporting ease.

BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST

JULY 31, 2010

3



Schedule of Investments (concluded)

BlackRock Pennsylvania Strategic Municipal Trust (BPS)

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

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

•Level 2 — other observable inputs (including, but not limited to: quoted
prices for similar assets or liabilities in markets that are active, quoted
prices for identical or similar assets or liabilities in markets that are not
active, inputs other than quoted prices that are observable for the
assets or liabilities (such as interest rates, yield curves, volatilities,
prepayment speeds, loss severities, credit risks and default rates) or
other market-corroborated inputs)

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

The inputs or methodologies used for valuing securities are not necessarily
an indication of the risk associated with investing in those securities. For
information about the Trust’s policy regarding valuation of investments and
other significant accounting policies, please refer to the Trust’s most recent
financial statements as contained in its annual report.

The following table summarizes the inputs used as of July 31, 2010 in
determining the fair valuation of the Trust’s investments:

Valuation Inputs  Level 1  Level 2  Level 3  Total 
Assets:         
Investments in Securities:       
Long-Term         
Investments1  —   $ 47,343,744  —   $ 47,343,744 
Short-Term         
Securities  $ 1,710,765      1,710,765 
Total  $ 1,710,765   $ 47,343,744  —   $ 49,054,509 

 

1 See above Schedule of Investments for values in each sector.

BLACKROCK PENNSYLVANIA STRATEGIC MUNICIPAL TRUST

JULY 31, 2010

4



Item 2 – Controls and Procedures

2(a) – The registrant's principal executive and principal financial officers or persons performing
similar functions have concluded that the registrant's disclosure controls and procedures (as
defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the
“1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the
evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

2(b) – There were no changes in the registrant's internal control over financial reporting (as defined
in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter
that have materially affected, or are reasonably likely to materially affect, the registrant's
internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.

The BlackRock Pennsylvania Strategic Municipal Trust

By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer of
The BlackRock Pennsylvania Strategic Municipal Trust

Date: September 27, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the dates indicated.

By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
The BlackRock Pennsylvania Strategic Municipal Trust

Date: September 27, 2010

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
The BlackRock Pennsylvania Strategic Municipal Trust

Date: September 27, 2010