we have a pendant lamp on a swag. when we need to move the table, I move the pendant to a different hook. we have beams in our ceilings so it's easy to hide the extra hook. not so easy if you have a plain white ceiling.

Thanks @User, that could definitely work. We don't have a beam in that area but I feel like I could paint a hook white and it wouldn't be too noticeable?

Do you usually tie up the extra chord?

there's no extra cord, when the lamp is moved over, the "swag" dips a tiny bit lower. not enough to even be noticeable.

you can paint a hook white if you think it will look alright (or just buy a white hook), that's up to you. you can always remove it and patch up the hole if you don't like that.