The set screw at the top is what holds the "fixed metal shaft" (i.e. the shaft that is installed when recieved) to the umbrella portion of the PLM.
Many users will not bother to adjust this screw. However, the "position shaft" ( the shaped shaft with two holes to which the speed ring attaches) can be affixed to the PLM by this set screw as well. Install the position shaft, and "tighten" the screw until it locks both shafts in place. I use the word "tighten" in quotes to indicate the motion required to lock these in place. The screw will not actually get tighter. If you turn too much, the screw will fall through, so be careful if you decide to go this route.
Also, if you wish to replace the set screw with a longer 8-32 threaded screw/knob, you can also hold the 7mm shaft in place, allowing for the PLM to open like a normal umbrella.
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