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Unknown Tool

In LibreOffice Writer 5 there is a tool icon that that appears at the cursor position when a text box is left-clicked and the mouse button held down. The icon looks like a rectangle with an arrow pointing toward the 11 o'clock position. If the cursor is then moved and then the mouse button released the text box jumps across the page aligning the top line of the bounding box to the cursor position.

What is this tool called, and what is it used for, bearing in mind the cross-arrow tool can move a text box too?