Newcastle Investment (NCT) Stock Continues Gains After Spin Off

NEW YORK (TheStreet) -- Shares of Newcastle Investment (NCT) were gaining 9.9% to $4.68 Monday, continuing gains from Friday when the REIT announced it completed the spin-off of New Senior Investment (SNR) .

Shares of the investment firm New Senior began trading on Friday. Newcastle Investment shareholders each received one share of New Senior for each share of Newcastle they owned on the close of business on Oct. 27.

Shares of New Senior were falling 1.5% to $19.01 in morning trading on Monday. About 739,960 shares of the new company were traded by 11:47 a.m.

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NCT Chart NCT data by YCharts

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