Fixed Asset: Stocks purchased

Should you even record it in a company is the question. Personal investment has no tax consequence until sold and daily fluctuations are never tracked.

If this is your company (LLC or corporation) buying into another company then yes it is s fixed asset. There is no tax line for purchase of non-expense assets. Whoever's name is on the partnership agreement in the new investment will get K1 and any income if for the company will depend on the structure of the investment vehicle.

Assuming the company purchased stocks as an investment in publicly traded stock.  It is not a fixed asset, but another current asset.  You do not recognize or record any changes in the stock value until it is sold.  

Stock purchased in another company whereby you are a shareholder/stockholder are recorded as another current asset and the balance is adjusted by the K1 received.