The current pandemic era has given uncertainty to the country's economic growth and resulted in many countries experiencing a drastic decline in share prices. This condition impacts investors' perceptions of the funds that have invested in the stock market. This study investigates the effect of essential information and disposition effect on shifting decision investment with the character investor's moderation as the moderator variable. A survey was conducted on 252 investors who have invested in the Indonesian stock exchange. The Data processing used the partial least square (PLS) technique. This study indicates that essential information for investors in the pandemic era can increase the disposition effect in deciding beneficial share ownership. The essential information obtained by investors in the covid era regarding stock market movements and its internal performance in the stock market list can increase investor shifting decisions. The disposition effect can have a significant effect on shifting decision investors. Essential information related to stock price movements and its internal performance affects investors' courage to take risks and provide optimism for shifting decisions. Then the investor type does not affect the disposition effect on shifting decisions. This study contributes to the theory of financial behavior in decision making by considering psychological factors when uncertainty exists in the stock market.