Is there a replacement for selectmoveresize?

Before the change in graphics, I could create a text box, set its 'buttondownfcn' to 'selectmoveresize', and then move it wherever I want.

This has been removed in the current MATLAB graphics model; instead, I need to invoke plotedit, move the text box, then reinvoke plotedit. This behavior causes me extra and annoying work, just to move a text box around with my mouse.

Is there some way to restore the ability to move text boxes without having to invoke plotedit?