Shares of SK Telecom Co. (NYSE:SKM) traded down 3.1% during trading on Friday . The stock traded as low as $22.23 and last traded at $22.25, with a volume of 352,112 shares traded. The stock had previously closed at $22.97.

Separately, HSBC cut shares of SK Telecom from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th.

The firm’s 50-day moving average price is $22.03 and its 200 day moving average price is $20.50. The company has a market cap of $14.25 billion and a P/E ratio of 10.27.

A hedge fund recently raised its stake in SK Telecom stock. Advisors Asset Management Inc. increased its position in SK Telecom Co. (NYSE:SKM) by 11.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,669 shares of the company’s stock after buying an additional 6,688 shares during the period. Advisors Asset Management Inc.’s holdings in SK Telecom were worth $1,343,000 as of its most recent filing with the SEC.

SK Telecom Co, Ltd. is a wireless telecommunications service provider. The Company offers the following core services: Cellular voice services; Wireless data services; Broadband Internet, Internet Protocol television (IPTV) and fixed-line telephone services, and New businesses. The Company provides wireless voice transmission and wireless global roaming services.

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