Neutral balanced torque converter?

I just finished installing the motor and trans in my car, and as I was putting the torque converter in I noticed that It has a little weight on it, its not very thick and its about 1.5 inches long. It came off of my old 318 which are internally balanced, and therefore a neutral balanced converter (I think..).

I put in a B&M flexplate for the 360 and i'm using the correct harmonic balancer. But is this little weight on the converter to make it neutral balanced? or not.