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

Separately, HSBC downgraded SK Telecom from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th.

The company has a market cap of $14.25 billion and a P/E ratio of 10.34. The firm has a 50 day moving average of $22.07 and a 200 day moving average of $20.52.

A hedge fund recently raised its stake in SK Telecom stock. Advisors Asset Management Inc. boosted its stake in SK Telecom Co. (NYSE:SKM) by 11.2% during the fourth quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

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.