Wrap Text And Move Pictures In Word - Microsoft Support

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Choose the layout options you want:

Layout Options box

To bring your picture in front of the text and set it so it stays at a certain spot on the page, select In Front of Text (under With Text Wrapping), and then select Fix position on page.
To wrap text around the picture but have the picture move up or down as text is added or deleted, select Square (under With Text Wrapping), and then select Move with text.