Hi,
the piece is fixed.
It's a Thermistor, that changes resistance with temperature.
If it's covered with fuel it's cooled, if not it heats up and your fuel lamp will start glowing.
freqrider wroteI am curious, do you recall the aluminum dounut/cylinder on the sender, is it fixed or does it slide up and down like a float? I am refurbishing my spare tank innards and noticed the piece is fixed. Not moving? Is this correct or is it corroded? Thanks!