How had UTG been playing so far? Why are there only 4 people? What stage was the tourney at (early, near bubble, etc.)? Always try to ask yourself some questions and figure out the best play for the situation.

In general though, JTo isn't great out of position. This really depends on UTG's style though. If he was being super loose with limping I'd probably just shove PF, try to pick up the dead money (and BB probably won't be calling off 2/3 of his stack or reshoving 95% of the time if he has any sense at all). JTo has some equity against a really wide limping range even if he does call.

The problem with raising to 300 is you're out of position against a stack that covers you more than 3 times over with a mediocre speculative hand. You pretty much feel super uncomfortable on any flop except a monster (straight, 2 pair, trips). He has the power to float any continuation bet (except a shove of course) and if you show weakness he'll pounce, and you'll have no idea if he was floating with nothing or if he had you beat. Position is a huge factor!!