From 1965 to 2003 large block trades of common stock traded on the New York Stock Exchange increased from 3.1 percent to almost 50 percent.This indicates that

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The significant increase in large block trades of common stock traded on the New York Stock Exchange from 3.1 percent to almost 50 percent from 1965 to 2003 indicates that the majority of trading is now done by institutional investors, such as hedge funds, pension funds, and mutual funds, rather than individual investors. This shift in market participation suggests that institutional investors now have a greater impact on the stock market's dynamics and the direction of stock prices.

From 1965 to 2003 Large Block Trades of Common Stock