5 Best Cryptocurrency Stocks To Buy Now

3. CME Group Inc. (NASDAQ:CME)

Number of Hedge Fund Holders: 58

CME Group Inc. (NASDAQ:CME) is one of the world’s largest financial derivatives exchanges, and trades in asset classes that include agricultural products, currencies, energy, interest rates, metals, stock indexes, and cryptocurrencies futures. The company offers a range of cryptocurrency products, tools, and courses on cryptocurrency trading. CME Group Inc. (NASDAQ:CME) is focused on the two most prominent cryptocurrencies: Bitcoin and Ethereum. It is the third-best cryptocurrency stock to buy now.

Analysts are growing bullish on CME Group Inc. (NASDAQ:CME). This June, UBS analyst Alex Kramm cut his price target on CME Group Inc. (NASDAQ:CME) to $258 from $284 but maintained a Buy rating on the shares. The analyst also named CME Group Inc. (NASDAQ:CME) among the best plays in a rising and volatile interest rate environment.

By the end of the first quarter of 2022, 58 hedge funds held stakes in CME Group Inc. (NASDAQ:CME) worth $2.95 billion. This is compared to 55 hedge funds in the previous quarter with stakes of $2.72 billion. The hedge fund sentiment for the stock is positive.

GuardCap Asset Management raised its Q4 2021 stakes in CME Group Inc. (NASDAQ:CME) by 3% in the first quarter of 2022. As of March 31, the hedge fund owns more than 4.15 million shares of the company which amounts to a stake of $987.30 million. The investment covers 12.93% of GuardCap Asset Management’s 13F portfolio and makes it the top shareholder in the company.

Baron Funds, an asset management firm, mentioned CME Group Inc. (NASDAQ:CME) in its “Baron Durable Advantage Fund” first-quarter 2022 investor letter. Here is what the firm said:

“CME Group, Inc. (NASDAQ:CME) operates the world’s largest and most diversified derivatives marketplace. Shares rose 4.6%, contributing to results as elevated market volatility and rising interest rates led to higher trading activity on CME’s exchanges. Average daily trading volume increased 19% year-over-year with notable strength in Interest Rates and Equities products. We continue to own the stock due to CME’s strong competitive moats, underpinned by its product breadth and liquidity depth, as well as its sustainable growth characteristics driven by the secular shift from uncleared over-the-counter trading to exchange-traded futures while also benefiting from the rising rate environment.”