Small PP in SB

Hello! I ran into a hand today that I wasn't sure how to play. This is from a $22 MTT on Party, Blinds are 200/400, my stack is 6800 (M=11.3). BB is new to the table and no info on him yet.

I pick up 4[img]/images/graemlins/diamond.gif[/img] 4[img]/images/graemlins/heart.gif[/img] in the SB and it has been folded to me.

Raise? Call? Fold?

Villian has 7400 chips. I like raising to pick up the blind without a flop. However playing to a reraise just before the bubble is painful with such a hand. Calling shows too much weakness (3-1 pot odds for the call, nice implied odds if I hit the set and get action). I really lean towards fold here because I don't want to compete for a small pot at this stage of the game and my M is good enough to hold on for a bit.

20% raise 20% call 60% fold

What are your ideas?