The men are aged between 19 and 21, and were all interviewed by officers yesterday after being arrested on Public Order offences.
The incident that police are looking into happened between 5 pm and 6 pm on Saturday 14 May when Jersey and Guernsey fans clashed at the junction of Hilgrove Street and Halkett Street.
Officers had to cordon off the street to keep the fans separated and to prevent the situation from escalating.
Police say that their enquiries are ongoing.
They have not said whether the four arrested yesterday were all from Jersey.