Object hovering then disappearing as seen from approximately one mile.

Watching for airplanes and birds with my Canon 10X42 Image Stabilizing Binoculars when suddenly thought I was looking at a Dragonfly hovering. It stayed in place for a few seconds then started to it's left and DISAPPEARED! After it was gone realized I couldn't see anything that small focused 2 to 3 miles away. Trying to remember after it was gone that the thing was more cylindrical and nothing like wings on it. There did appear to be a disturbance around it that when first seen could have mistaken for whirring wings. In the field of view where a hawk would measure 1/8 to 1/4 inch this object facing me was much larger and maybe silver and some detail. Might have been in the 1/2 inch range.