Abstract: A fishing floater is controllably slidable along a fishing line to automatically assure that a fishing hook connected adjacent an end of the line will be located close to the bottom of the water when fishing, regardless of whether the depth of the water is known. The floater includes a guide or frame member with a pair of spaced guides and an eccentrically weighted, buoyant hub which is rotatably connected to the guide member between the spaced guides. The fishing line extends through one of the guideways, around the hub and then through the outer guideway. With a weight attached to an end of the line and a hook spaced a short distance from the weight, gravity causes the weight and line to sink to the bottom, thereby pulling the line through the floater by rotation of the hub with respect to the guide member. When the weight hits the bottom, hub rotation stops.