You can try something like this:
Code:
Option Explicit
Private itmListItem As ListItem


Private Sub ListView1_DblClick()
    If itmListItem Is Nothing Then
        MsgBox "Nothing is selected."
    Else
        MsgBox "You selected " & itmListItem.Text
    End If
End Sub


Private Sub ListView1_MouseDown(Button As Integer, Shift As Integer, x As Single, y As Single)
    Set itmListItem = ListView1.HitTest(x, y)
End Sub