Let denote the classical Dirichlet space of analytic functions in the open unit disc with finite Dirichlet integral, . Furthermore, let be the space of weak products of functions in , i.e. all functions that can be written as for some with . The dual of has been characterized in 2010 by Arcozzi, Rochberg, Sawyer, and Wick as the space of analytic functions on such that is a Carleson measure for the Dirichlet space. In this paper we show that for functions in proper weak*-closed -invariant subspaces of , the functions are in the Nevanlinna class of and have meromorphic pseudocontinuations in the Nevanlinna class of the exterior disc. We then use this result to show that every nonzero -invariant subspace of has index 1, i.e. satisfies dim N/z N = 1.