While it could be rebalancing, it could also be a sign the stock is under accumulation (or distribution). I have invested in stocks for many years and follow a Technical Analysis philosophy. The reason it could be under accumulation (for example) could be that some insiders know something and are slowly accumulating stock so as not to hit the price up suddenly…be ‘under the radar’.
…or it could be a mutual fund/ETF that has decided the stock is worth getting but accumulate slowly so as not to attract attention.
I can’t be more judgmental about it unless I know the stock, something I presume you don’t wish to share.