that’s exactly how I bait fish for snapper ..... on the anchor or these days spot lock with the leccy. I then try to fish as lightly weighted as possible down a burley trail. Yes I would also call it fishing “floaters”. .... the kiwis call it stray lining as per the description - throw a stray line out the back and let it drift around.
Normally I would fish this way in reasonably shallow water ..... <30m. But I’m trying to do it now in 60m . Unfortunately that means more current and more lead which has created the problem.
chris