Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CITY OF LONDON INVESTMENT GROUP PLC
  2. Issuer Name and Ticker or Trading Symbol
TEMPLETON DRAGON FUND INC [TDF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
77 GRACECHURCH STREET, LONDON ENGLAND
3. Date of Earliest Transaction (Month/Day/Year)
08/23/2017
(Street)

LONDON, X0 EC3V0AS
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01 per share (1)               954,264 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (2)               282,278 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (3)               895,070 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (4)               651,571 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (5)               658,984 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (6)               325,181 (12) I As investment adviser to a Dublin, Ireland-listed open-ended investment company (13)
Common Stock, par value $.01 per share (7)               595,730 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (8)               1,020,525 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (9)               167,443 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (10)               160,035 (12) I As investment adviser to a private investment fund (13)
Common Stock, par value $.01 per share (11) 08/23/2017 08/23/2017 S   5,500 D $ 21.69 4,289,459 (12) I As investment adviser to unaffiliated third-party segregated accounts (13)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CITY OF LONDON INVESTMENT GROUP PLC
77 GRACECHURCH STREET
LONDON ENGLAND
LONDON, X0 EC3V0AS
    X    
CITY OF LONDON INVESTMENT MANAGEMENT CO LTD
77 GRACECHURCH STREET
LONDON ENGLAND
LONDON, X0 EC3V0AS
    X    

Signatures

 /s/ Barry M. Olliff, Director - City of London Group PLC   08/25/2017
**Signature of Reporting Person Date

 /s/ Barry M. Olliff, Director - City of London Investment Management   08/25/2017
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These securities are beneficially owned by Emerging (BMI) Markets Country Fund.
(2) These securities are beneficially owned by Emerging Markets Free Fund.
(3) These securities are beneficially owned by Emerging Markets Global Fund.
(4) These securities are beneficially owned by Emerging Markets Investable Fund.
(5) These securities are beneficially owned by Global Emerging Markets Fund.
(6) These securities are beneficially owned by The Emerging World Fund.
(7) These securities are beneficially owned by Emerging Free Markets Country Fund.
(8) These securities are beneficially owned by Emerging Markets Country Fund.
(9) These securities are beneficially owned by Investable Emerging Markets Country Fund.
(10) These securities are beneficially owned by The EM Plus CEF Fund.
(11) These securities are beneficially owned by 14 unaffiliated third-party segregated accounts.
(12) No one direct beneficial owner of the reported securities owns more than 5% of the outstanding securities of Issuer.
(13) As of the date hereof, City of London Group PLC ("CLIG"), through its control of City of London Investment Management Company Limited ("CLIM"), and CLIM, in its capacity as investment adviser to the funds listed above and the 14 unaffiliated third-party segregated accounts, have voting and dispositive power with respect to all of the reported securities.

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