Is this true on a $ weighted basis? Makes total sense as % of total traders over a X period long session. Presumably Blackrock and Vanguard have longer hold tim

Is this true on a $ weighted basis? Makes total sense as % of total traders over a X period long session. Presumably Blackrock and Vanguard have longer hold times, therefore at the margin the price movement is driven more by infrequent traders. However, are day traders really "the market" now? Haven't kept up.