NEW YORK--(BUSINESS WIRE)--Closed-end funds (CEFs) are actively redeeming remaining auction-rate preferred stock (ARPS), according to a new Fitch Ratings report. So far in 2015, $440 million of ARPS was tendered, of which $418 million was done through below-par tender offers. Fitch expects the redemptions to continue for the remaining $6 billion in ARPS. CEFs have alternative financing options, such as variable-rate demand preferred shares (VRDPs) and variable municipal term preferred shares (V