Middle set in big-ish pot out of position

[Quester]

Second hand at the table for both villains, so no reads.

PokerStars No-Limit Hold'em, $0.10 BB (5 handed) Hand History Converter Tool from FlopTurnRiver.com (Format: 2+2 Forums)

Hero ($8.70)
UTG ($9.85)
MP ($9.45)
Button ($15.50)
SB ($5.80)

Preflop: Hero is BB with 4[img]/images/graemlins/club.gif[/img], 4[img]/images/graemlins/heart.gif[/img].
UTG calls $0.10, <font color="#CC3333">MP raises to $0.4</font>, Button calls $0.40, SB calls $0.35, Hero calls $0.30, UTG calls $0.30.

Flop: ($2) T[img]/images/graemlins/spade.gif[/img], 4[img]/images/graemlins/diamond.gif[/img], 2[img]/images/graemlins/spade.gif[/img] <font color="#0000FF">(5 players)</font>
SB checks, <font color="#CC3333">Hero bets $1.5</font>, <font color="#CC3333">UTG raises to $5.2</font>, MP calls $5.20, Button folds, SB folds, Hero ...

At this point there is a lot of money in the pot, and I have middle set. However, UTG's raise really set off alarms in my head. Is this just MUBS?