According to Broad Rimes (Guangyun), it is pronounced xuan (rising tone). It means a compass.
Also, according to Tang Rimes (Tangyun) and Collected Rimes (Jiyun), it is pronounced juan (level tone). It has the same meaning.
Also, according to Collected Rimes (Jiyun), it is pronounced xuan (level tone). It is the same as the character for round (huan). Note: This character is synonymous with the characters for round (yuan), member (yuan), and round (huan). Explanation of the Character (Shuowen Jiezi) explains this character as meaning a compass. A compass represents the roundness of the celestial body; this word for round is the modern character for round, and the character for member is the same as the square-round round. The pronunciations differ, but the meanings are identical; please refer to the respective entries for each.
Also, according to Collected Rimes (Jiyun), it is pronounced xuan (falling tone). It has the same meaning.