I've had about 5 trout reels so far. The first 4 were cheap ones. 3 were just fine for my purposes, but one had a limited range of adjustment on the drag and the drag engaged rather abruptly. The last one is a Battenkill Bar Stock --in your price range and a genuinely nice reel.

I don't catch any more fish with the BBS, but I plan to buy more of them in the future. I'm the type that sticks with a good thing once I've found it. There may be better out there, but I don't take the risk once I've found what satisfies me. Heck, still with my first wife after almost 40 years!

I can only recommend what I have actual experience with. There may be better reels out there in your price range, but I can endorse the BBS as a safe bet.