Using diffusing-wave spectroscopy (DWS), we studied experimentally the particle dynamics for a density matched superparamagnetic polystyrene colloid in a refractive index nearly matched multiple-layered cell. Particle dynamics is probed during structure formation and disintegration, when a 0.2 Hz square-wave magnetic field was turned on for 4 s and off for 1 s. The correlation function shows that the particles move slower and more restricted when the magnetic field is on. Even during the off cycle of the magnetic field, the particles' motion is not free but still constrained with a less degree than that when the field is on. Thus, it takes more than 1 s for the induced structure to disintegrate. As the magnetic field strength increases, so does the degree of constrain for both the on and off cycle of the magnetic field and the differences between them. Modified telegrapher theory is found to be valid for our strongly absorbing and limited multiple scattering sample.