Word that UBS, Citigroup and Merrill Lynch will buy back almost $40 billion in auction-rate securities may make some closed-end fund companies that moved to redeem auction-rate preferreds wish they waited in the sidelines like some of their peers, according to Diya Gullapalli and Shefali Anand in Tuesday's Wall Street Journal Fund Track column. BlackRock, Nuveen Investments and Eaton Vance are among those that have redeemed or unveiled plans to redeem about $12 billion in auction-rate preferreds. Meanwhile, firms like Pimco, Nicholas-Applegate funds and Claymore Advisors have not. 

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