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What happens with magnetic dipole while falling through copper cylinder?

If it's parallel to z-axis (shown on picture below with red color) we know that it stays parallel to the z-axis all the way through. But want if we dispalce it for some angle $\theta$ (not parallel to the z-axis) and then drop it? (Shown on picture below with green color). What happens with dipole now? Does it start rotating? Does it stays that way, without moving? Or does it align with z-axis again, so that they become parallel?

Please explain wat would happen and why? And how could we figure this out or even calculate it?

Thank you in advance!

enter image description here

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