More activist investors have built stakes in Hewlett Packard Enterprise Co (NYSE:HPE). The tech giant faces a year of sustained pressure from Elliott Management, and Irenic Capital is among the new funds holding positions, sources close to the company told to Semaphore.

Hewlett Packard Enterprise and Irenic Capital did not immediately respond to Benzinga's request for comment.

• What’s going on with HPE shares today?

Irenic Capital Enters Fray

Irenic Capital, managed by Adam Katz, has discussed frustrations with HPE executives. Katz recently pushed to block the News Corp (NASDAQ:NWSA) and Fox Corp (NASDAQ:FOX) merger. Irenic's specific plans for Hewlett Packard Enterprise remain undisclosed. The firm managed $2.4 billion at year-end.

Post-Merger Regulatory Hurdles

The company recently closed a $14 billion takeover of Juniper Networks. This was Hewlett Packard Enterprise's largest acquisition ever. An 18-month regulatory review drew allegations of improper lobbying.

HPE Stock: Key Technical Levels To Watch

From a longer-term trend perspective, HPE is extended but still technically constructive: the stock is trading 8.3% above its 20-day SMA ($28.58) and 31.9% above its 200-day SMA ($23.47).

The moving-average structure remains bullish, with the 20-day SMA above the 50-day SMA and a golden cross (50-day SMA over the 200-day SMA) that occurred in April.

With the 52-week high at $31.95 and the stock currently just below that area, traders often watch for either a clean breakout attempt or a "double-top" style rejection that sends the price back toward nearer support.

HPE Stock Price Activity: Hewlett Packard shares were up 2.18% at $30.88 at the time of publication on Wednesday, according to Benzinga Pro data.

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