We analyze a set of three RXTE Target of Opportunity observations of the Galactic microquasar GRS 1915+105, observed on April 2000, during a multi-wavelength campaign. During the three observations, a strong, variable low frequency ($2{-}9$ Hz) quasi periodic oscillation (hereafter QPO), often referred to as the ubiquitous QPO, is detected together with its first harmonic. We study the spectral properties of both features, and show that: 1) their frequency variations are better correlated with the soft X-ray flux ($2{-}5$ keV), favoring thus the location of the QPO in the accretion disk; 2) the QPO affects more the hard X-rays, usually taken as the signature of an inverse Compton scattering of the soft photons in a corona; 3) the...