Bluetooth Speaker Volume from Macbook Pro Low

I have a 2013 Macbook Pro with OS X Yosemite 10.10.4 and a small portable Bluetooth speaker. The volume from the speaker is very low compared to what it used to be before I updated the software. The volume is still very high when I connect my iPhone, but when my Macbook Pro is connected, the maximum volume is very low.

I have tried going to audio MIDI setup and changing the volume there, as well as the master volume, and the volume in iTunes, but the volume from the speaker peaks very low. I know that the problem is my computer and not the speaker itself.

Is there something I am missing or unaware of? Does anyone know how to fix this?