Okay, that makes a little more sense. Thanks.
So hedge funds use Robinhood's trading platform to execute trades since there is (I believe) no commission to transact. God, I am old enough to remember trading through brokerage houses that would charge 5 or even 6 cents a share. Man, they would fly into town every year, take us to the finest steak houses, scotch, cigars, limos, strip clubs.....and then competition rolled in and commissions were cut. 4 cents, then 3....then you had computer programs to trade shares with for a penny. The fancy dinners stopped immediately and the Xmas gifts that flowed in went from Dom to a card where they donated to the Human Fund on your behalf.
Hedge Funds will use myriad houses to execute trades, but unless they want access to research reports, analysts or deal flow, they'll turn to the discount trading houses so commission costs are de minimus.