Do people with large sums of cash in their investing accounts intraday invest for the small % gains?

New to investing so sorry if this is a silly question. But does anyone know a person with big wallets like 10M+ that buys and sell the same day, because the small percent change is enough for them? I mean if I had 10M, I would maybe buy something safe like $SPY or $APPL and sell later in the day because a 1% return is $100,000 which could get me along for as much as a year and then maybe keep the principal 10M in cash because you never know… do people with large sums of cash actually do this?