Does gnu emacs have the equivalent of Xemacs mouse-track-insert

[asac]

Hi,
I am trying to migrate from Xemacs to GNU emacs because of instability
of Xemacs (many crashes).
So I am wondering if the equivalent of mouse-track-insert exists in
GNU Emacs?
I google for that but only get Xemcs references.
This function is very handy since you can copy/paste a word in 2
clicks.
step1: place the cursor when you want to paste/yank the text
step2: ctrl-double click on left button on the text you want to copy/
paste and you will get it where you initially placed the cursor.

This is very handy and I thing is one of the only mouse usage I have,
so I am badly missing it.
Thanks, Regards,
Alex