The asteroid measures about 33 feet in diameter, likely originating in the Arjuna’s cluster of Near Earth Objects.
These asteroids have an orbit around the Sun and occasionally can move close enough to Earth to be temporarily pulled out of their trajectory by Earth’s gravity.
2023 PT5 has a low velocity and will divert from its course and spend about two months as a mini moon, making a horseshoe-shaped fly-by of Earth.
If you’re sad to see the mini moon go, don’t worry. Modeling shows that 2024 PT5 will make a return trip through Earth’s gravitational field in 2055. It will also swing by for a brief visit in 2025, but it won’t get pulled in by Earth’s gravity, so it won’t count as a mini-moon then.