dipstick without fixed cap

[dmjlambert]

Is this typical of a dipstick on a 6 cylinder 230 engine? This is on my 1963 C10. The dipstick tube is 7 inches long from the engine. The cap stops on the dipstick about 2.5 inches from the curly handle, but it flops around anywhere between the handle and that stop. It looks like it was made that way. Do I need a proper use of the dipstick lesson? Or is something wrong? Red arrow shows the apparent stopping point where the cap can rest. The last picture shows the cap as low as it can slide.