Do you mean to reposition a part from one node to another (from one subassembly to another) in ANT???
I don't have much PDW know how but it will break the wave links in the part for sure (which i guess are creaated on the fly in PDW).
If you just want to reorder the part in assembly navigator then that can be done using attributes (sort using attributes).
One such discussion is given below..
The screenshot indicates that you are currently using the "chronological" order; the system also defines an "alphabetic" and "alphanumeric" order. If you would like a custom order for the components, you can create your own by dragging the components into the desired order and saving the custom order. You can change between the available orders by right clicking on the top level assembly (in the navigator) and choosing "navigator order".