[Dev-C++] File Handling

I have a program that needs to read in a file only 500 chars at a time. I 
found this example in a tutorial but am confused about a part of it.

  ifstream file ("example.txt", ios::in|ios::binary|ios::ate);
  if (file.is_open())
  {
    size = file.tellg();
    memblock = new char [size];
    file.seekg (0, ios::beg);
    file.read (memblock, size);
    file.close();
   ...

When file.read() is called, does it move the file pointer, or do i have to 
do it? If i have to move it to read the next 500 chars, would i set the 
pointer at the value 500?

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